Michelle has four credit cards with the balances and interest rates listed below. Rather than budget to pay each of the credit cards off in 36 months, Michelle would like to pay them off one at a time based on the balance for each credit card. In which order should Michelle pay off her credit cards?
Credit CardBalance APR
\#1\$4,380 17\%
\#2\$1,365 19\%
\#3\$2,480 23\%
\#4\$5,000 15\%
A1, 2, 3, 4
B4, 1, 3, 2
C4, 3, 1, 2
D1, 3, 2, 4
Credit Card | Balance | APR |
\#1 | \$4,380 | 17\% |
\#2 | \$1,365 | 19\% |
\#3 | \$2,480 | 23\% |
\#4 | \$5,000 | 15\% |
A1, 2, 3, 4
B4, 1, 3, 2
C4, 3, 1, 2
D1, 3, 2, 4