Question

Elijah currently owes a total of $1,649.70 on his revolving credit accounts. What is Elijah's debt-to-credit ratio if the total of his revolving credit limits is $6,345.00? Round the final answer to the nearest whole percent.

a
26%

b
38%

c
41%

d
50%

Answer 1

Elijah's debt-to-credit ratio is calculated by dividing his total debt by his total credit limits. In this case, the ratio is $1,649.70 / $6,345.00 = 0.2609, or about 26%. The answer is therefore (a) 26%.

Answer 2

a. 26%

sorry if wrong...