Question

Tanya has opened two credit cards in the last year. Use the information on each credit card located in the table below to answer the question.


Account Name Account Number Date Opened Balance Past Due Account Status Credit Limit
Credit Card A xxxx 2/18/11 $3,612.35 $0.00 PAYS AS AGREED $12,000
Credit Card B xxxx 11/14/10 $1,258.47 $0.00 PAYS AS AGREED $7,000


What is Tanya’s overall debt-to-credit ratio?
17.98%

25.64%

30.10%

48.08%



@whpalmer4

Answer 1

your table is a bit mashed together. does the Balance column contain the numbers
$3,612.35 and $1,258.47?

Answer 2

What is her total credit limit?

What is the sum of her indebtedness?

The latter/former should give you the debt-to-credit percentage

Answer 3

credit limit is 12000

Answer 4

and yes the balance column contains thoes numbers

Answer 5

no, credit limit is the sum of all of the individual credit limits.

Answer 6

total credit limit, that is.

Answer 7

so what do i do ahhah im lost

Answer 8

Add up all of the debt. add up all of the credit limits. The sum of all of the debt, divided by the sum of all the credit limits is the debt to credit ratio.

Answer 9

thank you (: