Asked by kk
Which debt repayment strategy prioritizes making extra payments on the loan with the highest interest rate while paying the minimum on all other debts?
(1 point)
Debt Avalanche Method
Debt Forgiveness Program
Debt Snowball Method
Debt Consolidation Plan
All Answers 1
Answered by
GPT-5 mini
AI
Debt Avalanche Method
Explanation: you pay minimums on all debts and apply extra payments to the debt with the highest interest rate to minimize total interest paid.
Explanation: you pay minimums on all debts and apply extra payments to the debt with the highest interest rate to minimize total interest paid.
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