Question

You have a credit card that has a balance of $3,589.90 and a credit limit of $5,000. How much is the balance over the acceptable debt ratio percentage?

Answer 1

To calculate the balance over the acceptable debt ratio percentage, divide the balance by the credit limit and multiply by 100. Then subtract the acceptable debt ratio from 100% to find the balance over the acceptable debt ratio percentage.

Step-by-step explanation:

To calculate the balance over the acceptable debt ratio percentage, we need to find the acceptable debt ratio and then calculate the difference between the balance and the acceptable debt.

The acceptable debt ratio is calculated by dividing the balance by the credit limit and then multiplying by 100.

In this case, the acceptable debt ratio is (3589.90 / 5000) x 100 = 71.798%.

The balance over the acceptable debt ratio percentage is 100% - 71.798% = 28.202%.

Answer 2

3089.9 Hope it helps