Question

Elizabeth just received her credit card bill. She calculates the compound interest on her bill and considers the payments she could make. If she pays the minimum payment of $45, it will take her five years to bring her balance to $0. How can Elizabeth most responsibly pay off her bill sooner? continue paying the minimum monthly payment pay it off with a different credit card take out a personal loan from a bank pay more than the minimum payment each month

Answer 1

Answer:

pay more than the minimum payment each month

Explanation:

Answer 2

The most responsible way for Elizabeth to pay off her bill sooner than five years is to d. pay more than the minimum payment each month.

What is a Credit Card?

A credit card is a payment arrangement that enables the cardholder to purchase goods and services on credit.

Since Elizabeth is interested in paying off her bill sooner than five years, she should not:

1. Continue paying the minimum monthly payment
2. Pay it off with a different credit card
3. Take out a personal loan from a bank.

Thus, instead of the above strategies, Elizabeth should d. pay more than the minimum payment each month.

Learn more about credit card balances at https://brainly.com/question/8806649