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

Answer:

The correct option is d.) $1089.90

Step-by-step explanation:

An accepted Debt Ratio percentage is 50%

Therefore, the balance is over by

Current Balance - (Credit Limit*0.5) = 3589.9 - (5000*0.5) = 3589.9 - 2500 = 1089.9

Therefore the balance over the acceptable debt ratio is $1089.90

Therefore the correct option is d.) $1089.90

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.