Question

Temina has opened two credit cards in the last year. Use the info on each credit card located in the table below to answer the question.

what is her overall debt to credit ratio ?

Answer 1

From the given table the total balance is given by: $1,998.60 + $2,714.82 = $4,713.42
From the given table the total creadit limit is given by $5,500 + $8,000 = $13,500

Therefore, Tamina's overall debt to credit ratio is given by $4,713.42 / $13,500 = 0.3491 = 34.91%.