Question

Who is most likely to have a large amount of credit card debt? a) Drew, who uses a reward credit card and pays off the balance every month b) Joshua, who has an outstanding debt of $560 and pays the minimum payment every month c) Brik, who uses his credit card only during emergencies and has a debt of $150 d) Rita, who pays all her monthly expenses using her credit card and pays the loan amount in full at the end of each month

Answer 1

Joshua is most likely to have a large amount of credit card debt because he has an outstanding debt of $560 and pays the minimum payment every month.

This correct answer is b)

Step-by-step explanation:

The student who is most likely to have a large amount of credit card debt is b) Joshua. This is because Joshua has an outstanding debt of $560 and pays the minimum payment every month.

By only paying the minimum payment, Joshua is not paying off his debt quickly and will accumulate interest over time, resulting in a large amount of credit card debt.

This correct answer is b)