Mathematics
vvpamela
36

Gina wants to pay off her credit card balances within 24 months. She is trying to decide if she should use her $2,000 in savings to pay off part of the balances or if she should transfer the balances to a new card with a low introductory rate. The new credit card has an introductory rate of 9% but charges a balance transfer fee of $75 for each balance transfer. Evaluate Gina's options and recommend the debt management plan that results in the lowest monthly payment.Credit Card A: $1,354 Credit Card B: $1,678 a. Pay off Credit Card B using the savings. Transfer the balance of Credit Card A to the new card. b. Pay off Credit Card A using the savings. Transfer the balance of Credit Card B to the new card. c. Pay off $1,000 from both Credit Card A and Credit Card B. Transfer the remaining balances from both cards to the new card. d. Pay off all of Credit Card B and $322 of Credit Card A. Transfer the remaining balance of Credit Card A to the new card.

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(1) Answers
fatbaby

c) pay off 1000 from both card a and card b

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