Mathematics High School

Ozzie has a Visa with a $2000 limit and a balance of $450; a store credit card with a $500 limit and a $200 balance; and a joint card with his mom with a $5000 limit and a $700 balance.

What’s Ozzie’s credit utilization on:
a. His Visa?

b. His store credit card?

c. The joint card with his mom?



What’s Ozzie’s overall credit utilization?


Ozzie works extra hours one week and receives an extra $75 in his paycheck. Which debt should he put that money toward? Why?

Answers

Answer 1

The values of the credit utilization are

Visa = 22.5%Store credit = 40%With his mum = 14%Overall = 13.5%

He should pay highest interest debt first

How to determine Ozzie’s credit utilization?

a. His Visa?

Here, we are given that

$2000 limit and a balance of $450

So, we have

Ozzie's credit utilization on his Visa is

Utilization = (450/2000) * 100 = 22.5%

b. His store credit card?

Here, we are given that

$500 limit and a $200 balance

So, we have

Ozzie's credit utilization on his store credit card is

Utilization = (200/500) * 100 = 40%

c. The joint card with his mom?

Using the same formula, we have

Ozzie's credit utilization on the joint card with his mom is (700/5000) * 100 = 14%

Overall credit utilization

This is calculated as:

Ozzie's overall credit utilization is the sum of his balances divided by the sum of his credit limits

So, we have

Utilization = (450 + 200 + 700) / (2000 + 500 + 5000) = 13.5%.

Which debt should he put that money toward? Why?

The debt with the highest interest rate first. This is because high-interest debt will cost more in the long run, so paying it off sooner will save money on interest charges.

Read more about credit utilization at

https://brainly.com/question/8958796

#SPJ1

Related Questions

In 2010, the population of a city was 93,000. From 2010 to 2015, the population grew by 8%. From 2015 to 2020, it fell by 4%. How much did the population grow from 2010 to 2015, to the nearest 100 people?

Answers

Answer:

I think its 8

Step-by-step explanation:

Because from 2010 to 2015 population grew by 8•/• that mean 8 people per 100

Ngela practice the piano for 2 1/2 hour on friday 2 1/3 hour on aturday and unday 3 2/3 hour how long angela practice the piano over the weekend

Answers

Angela practiced piano during the weekend for 6 hours.

According to the question,

Amount Angela spent on Saturday  = [tex]2\frac{1}{3}[/tex]

Amount Angela spent on Sunday = [tex]3\frac{2}{3}[/tex]

To find out the total amount spent on both days of the weekend =

The amount that Angela spent on Saturday + the amount that Angela spent on Sunday

= [tex]2\frac{1}{3}[/tex] (otherwise expressed as 7/3) + [tex]3\frac{2}{3}[/tex] (otherwise expressed as 11/3)

[tex]= \frac{7}{3} + \frac{11}{3}[/tex]

[tex]= \frac{7 + 11}{3}[/tex]   ( using addition)

= [tex]\frac{18}{3}[/tex] = 6 hours

Noted, Friday’s value was not added because it didn’t fall on the weekend.

The denominators of both fractions are the alike (3), thereby it was used to factor out the numerators (7) and (11), and subsequently arrive at the final answer which is 6 hours.

So, Angela practiced for 6 hours.

Read more about fractions:

https://brainly.com/question/78672

#SPJ4

Other Questions
Look at the person and items in the illustration, and identify the ten corresponding French words. Be sure to include the appropriate indefinite article Which type of firm invests in lean manufacturing programs in order to improve customer service levels for a given inventory investment? Because intelligence is defined according to the attributes that enable success in a culture, psychologists consider intelligence to be What are the main differences between the two houses of Congress?. A partnership agreement will include each of the following: (Check all that apply)1) date of partner dissolution2) names of partners3) tax payment duties4) partner rights and duties5) income and loss sharing I need help with this paper, it would be much appreciated. What share of modern renewable energy supplies does hydroelectric power account for?. What property of a regular hexagon makes this construction correct?Step 1: Draw a circle. Mark a point on it. Set the compass to the length of the radius. Step 2: Starting from the point on the circle, draw an arc that intersects the circle and mark the point of intersection. Step 3: From that point of intersection, draw another arc that intersects the circle. Step 4: Repeat until you have made 6 arcs. Step 5: Connect the 6 points to form a regular hexagon. a consistent set of symptoms that appears after discontinuing use of a drug is known as a(n) blank .multiple choice question.impulserehabilitation protocolantecedentwithdrawal syndrome what year was pluto reclassified as a dwarf planet What is the vertex form of Y X 8x 3?. What is a disadvantage of using an extended weather forecast to plan an event? (1 point)O Extended weather forecasts may not accurately predict weather for distant dates.O Extended weather forecasts may not contain data from reputable sources.O Extended weather forecasts are not based on scientific evidence.O Extended weather forecasts are not developed using technological tools. the first circumnavigation of the world was completed in 1522 by uppose that at your university, you will pay $12,000 each year for tuition, $2,500 each year for textbooks, and $10,000 per year for room and board. Before you left for college, your boss at your high-school job offered you a job paying $25,000 per year. After birth, which of the following is the biggest concern for a newborn infant suffering from hemolytic disease of the fetus and newborn?-Accumulation of bilirubin-Anemia due to red blood cell destruction-decrease in bilirubin level-Low hematocrit values Give all start up costs for opening a salon that has 8 workers and that does everything hair and wax related. Include the quantities for each item and the pricing Classify the following triangle according to its sides and its angle measures.2 cm83532.5 cm3 cm44 a rooster with grey feathers is crossed with a hen of the same phenotype. they produce 15 chicks with grey feathers, 7 chicks with black feathers, and 8 chicks with white feathers. what is the simplest explanation for this inheritance pattern? rectangle bounded by the x-axis and the semicircle x" (see figure). What length and width should the rectangle have so that its area maximum? smaller value : ___larger value: ___ When starting a new skill acquisition program, based on the first 2 sessions below, what is the frequency baseline of this desired behavior?10 I8 I --6 I \ /4 / / I \ /2 / \ I \/0 -- I