Tim would like to use his income tax return to pay off one of his four credit cards. His previous plan was to pay off all four credit cards in the same timeline of 36 months. He wants to eliminate the card that is charging him the most interest on a monthly basis. The chart below outlines Tim's four credit cards, their balances, and their APRs. Which credit card should Tim use his tax return to pay off?
Credit Card
Balance
APR
A
$1,260.00
12%
B
$900.00
18%
C
$1,290.00
9%
D
$1,200.00
16%
a.
A
b.
B
c.
C
d.
D
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Tim would like to use his income tax return to pay off one of his four credit cards. His previous plan was to pay off all four credit cards ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Current assets are economic resources that are expected to be converted to cash or used up by the business within one year or the normal operating cycle, whichever is shorter. A. True B. False
Answers (1)
Which form of organization design is capable of integrating geographic knowledge, product knowledge, functional competencies, and customer knowledge?
Answers (1)
Zynga creates new software versions and builds every day to ensure that their customers are always playing the latest and greatest games. This will result in high scores on which metric type?
Answers (1)
An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. The referring tenants do not hold real estate licensees. This arrangement is A) a violation of the fair housing law.
Answers (1)
In the local paper, a car dealership advertises a small used car for a great price and a low interest rate loan. When Patrice comes in to look at that car, the salesman steers her away from the advertised car.
Answers (1)
New Questions in Business
The financial statements for Harold Corporation contained the following information: Accounts receivable $ 5,000 Sales revenue 75,000 Cash 15,000 Salaries and wages expense 20,000 Rent expense 10,000 How much was Harold's net income?
Answers (1)
Nastasha has a gross income of $66,429. she can make adjustments of $14,490 for business losses, $3,584 for business expenses, and $4,813 for contributions to her retirement plan. what is nastasha's adjusted gross income? a. $109,971 b. $22,887 c.
Answers (1)
Debra notes that theo chocolate has started holding its own operations to the same imo standards of fair trade to which it holds its suppliers. this type of sends a powerful message to employees and customers.
Answers (1)
Partners G and H form the GH partnership, with G contributing $200,000 cash and H contributing some land with a basis of $600,000 and a FMV of $900,000, subject to a nonrecourse liability of $700,000.
Answers (1)
Johnson, Inc. a builder enters into an agreement to construct a commercial building in a residential area in violation of zoning laws. Johnson hires a crew of construction workers to build the building.
Answers (1)