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Janessa wants to pay off her credit card balances within 12 months. She is trying to decide if she should use her $1,000 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 6.5% but charges a balance transfer fee of $50 for each balance transfer. Janessa decides to pay of Credit Card B and $420 of Credit Card A, then transfer the remaining balance of Credit Card A to the new card. Which of the following options shows the amount of Janessa's new monthly payment?

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Answer:

B. 50.66

Step-by-step explanation:

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The option that shows Janessa's new monthly payment according to the question (see the attached text) is option B - $50.66. This question has to do with Debt Management.

What is Debt Management?

The process via which a person or an institution keeps their debt under control using financial planning, sound financial decisions, and budgeting is called debt management.

Learn more about Debt Management at:

https://brainly.com/question/3522165

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