Answered

Welcome to Westonci.ca, where curiosity meets expertise. Ask any question and receive fast, accurate answers from our knowledgeable community. Experience the convenience of getting accurate answers to your questions from a dedicated community of professionals. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.


2. (04.01 MC)
Gwen owes a total of $3,135.00 on revolving credit accounts that have total limits of $6,740.00. Calculate the amount she needs to pay on her debt to reduce her revolving
credit accounts to reach a 25% debt-to-credit ratio. (1 point)
$1,300.50
$1,450.00
$1,500.00

Sagot :

sqdancefan

Answer:

  (b)  $1450

Step-by-step explanation:

For her debt-to-credit ratio to be 25%, Gwen must reduce her credit accounts balance to 25% of her limits of $6740. That balance will be ...

  0.25 × $6740 = $1685

__

To get her balance down to that amount, she must reduce it by ...

  $3135 -1685 = $1,450.00

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.