Question

You have a credit card that has a balance of $3,589.90 and a credit limit of $5,000. How much is the balance over the acceptable debt ratio percentage?
$981.88
$1,010.24
$935.09
$1,089.90

Answer 1

correct option is $1089.90

Step-by-step explanation:

given data

credit card balance = $3,589.90

credit limit = $5,000

solution

as here accepted Debt Ratio percentage =  50% = 0.50

so that balance over by as = Current Balance - (Credit Limit × 0.50 )

balance over  = 3589.90 - (5000 × 0.5)

balance over = 3589.9 - 2500

balance over = 1089.9

balance over the acceptable debt ratio is $1089.90

so correct option is $1089.90

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Answer 2

Given :

★ You have a credit card that has a balance of $3,589.90 and a credit limit of $5,000.

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Find :

★ How much is the balance over the acceptable debt ratio percentage?

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Using formula :

★ Balance = Credit card balance - (Credit card limit * 50℅).

• 50% = 0.5

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Calculations :

→ 3589.90 - (5000 * 0.5)

→ 3589.9 - 2500

→ 1089.9

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★ Therefore, 1089.9 is the balance over the acceptable debt ratio percentage.