Question

You have a credit card that has a balance of $2,749.30 and a credit limit of $5,200. How much is the balance over the acceptable debt ratio percentage?

Answer 1

Do you know the acceptable debt ration percentage?

Answer 2

no

Answer 3

well right now the ratio is 2,749.30/5,200=0.5287 or 52.87%. Now find out what the acceptable debt ration percentage and subtract it from 52.87% to find out how much over.

Answer 4

The way the question is , is how my teacher gave it to me

Answer 5

by do a google search looks like the acceptable debt raio is no more that 50%.

Answer 6

so i subtract 58.87 -50

Answer 7

Yes, 52.87%-50%

Answer 8

the balance over the acceptable debt ratio percentage is 2.87

Answer 9

looks right.

Answer 10

thank you for your help !