You have a credit card that has a balance of $3,589.90 and a credit limit of $5,000. If you have a good credit rating, how much must you pay at the end of the month to get the balance to the acceptable debt ratio percentage? Secured Unsecured Credit APR (%) APR (%) Excellent 4.75 5.50 Good 5.00 5.90 Average 5.85 6.75 Fair 6.40 7.25 Poor 7.50 8.40

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 68SGR
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Question
You have a credit card that has a
balance of $3,589.90 and a credit limit
of $5,000. If you have a good credit
rating, how much must you pay at the
end of the month to get the balance
to the acceptable debt ratio
percentage?
Secured Unsecured
Credit APR (%) APR (%)
Excellent 4.75
5.50
Good 5.00
5.90
Average 5.85
6.75
Fair 6.40
7.25
Poor 7.50
8.40
Transcribed Image Text:You have a credit card that has a balance of $3,589.90 and a credit limit of $5,000. If you have a good credit rating, how much must you pay at the end of the month to get the balance to the acceptable debt ratio percentage? Secured Unsecured Credit APR (%) APR (%) Excellent 4.75 5.50 Good 5.00 5.90 Average 5.85 6.75 Fair 6.40 7.25 Poor 7.50 8.40
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