Question

What is the credit-to-debit ratio on the handy hardware credit card?

A.) 7.02%
B.) 15.02%
C.) 18.13%
D.) 92.98%

Answer 1

The debt-to-credit ratio of a credit account is the ratio of the balance to the credit limit:

... balance/credit limit = 245.78/3500 = 0.07022... ≈ 7.02%

The appropriate choice is ...

... A.) 7.02%