The tables show two ways to pay off $500 in credit card
debt
which is the best option for someone who wants to
improve his or her credit and pay less interest on the debt?
credit card debt: $500
annual compound interest: 15%
payment made per month: $15
total paid (44 months): $650.85
o $15 a month because it will let the person keep more
spending money
$100 a month because it will free up credit to buy other
things
o $15 a month because it will save money in the long run
$100 a month because it will reduce the amount of debt
owed
payment made per month: $100
total paid (6 months): $519.63
save and exit
thiend return
subunt