Question

(Total Costs and Debt Payoff LC)

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

Snowballing payments according to the highest interest rate
Snowballing payments according to the lowest balance
Making fixed payments each month
Paying the minimum balance each month

Answer 1

The correct answer would be snowballing her payments according to the lowest balance. This is because if she does this, it'll take less time and money to pay off. That way she also has money for other things as well.

Answer 2

awsome :)

Answer 3

:]