Bridget has an outstanding balance on four different credit cards. Which method of paying off her credit card debt will save her the most money?

paying the minimum balance each month

making fixed payments

snowballing her payments according to the highest interest rate

snowballing her payments according to the lowest balance

Question

Bridget has an outstanding balance on four different credit cards. Which method of paying off her credit card debt will save her the most money?

 paying the minimum balance each month

 making fixed payments

 snowballing her payments according to the highest interest rate

 snowballing her payments according to the lowest balance

anonymous · Answer

Typically, you want to pay down your highest interest rate debt first.

anonymous · Answer

what class is this?

anonymous · Answer

Advance Algebra with financial applications

anonymous · Answer

Interesting... thanks, I was just curious.

anonymous · Answer

I hate math, don't know why I took this class haha but thanks!