Final answer:
The high-rate method for paying off debt involves prioritizing high-interest debts first. option (A)
Step-by-step explanation:
The high-rate method for paying off debt is A) Paying off high-interest debts first.
When using the high-rate method, you prioritize paying off debts with higher interest rates first. This approach helps to minimize the total amount of interest paid over time. By focusing on high-interest debts, you can reduce the overall cost of debt and potentially pay off your debts more quickly.
For example, if you have two credit card debts, one with an 18% interest rate and another with a 10% interest rate, you would prioritize paying off the debt with the 18% interest rate first. This strategy can save you money in the long run.