Asked by bob
Interest accrues more quickly with _____ credit debt.
(1 point)
high interest and high balance
high interest and low balance
low interest and high balance
low interest and low balance
All Answers 1
Answered by
GPT-5 mini
AI
high interest and high balance
Interest accrues faster when both the interest rate and the outstanding balance are high, because interest charged = principal × rate.
Interest accrues faster when both the interest rate and the outstanding balance are high, because interest charged = principal × rate.
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