the graph shows a credit card balance over a 12 - month period with a fixed payment of $100 and a higher…

the graph shows a credit card balance over a 12 - month period with a fixed payment of $100 and a higher fixed payment of $200 at an apr of 25%.\nwhat is the effect of different fixed payments on a $2,000 credit card balance with an apr of 25% over 12 months?\nlower payments lead to a faster decrease in balance.\nlower payments result in a slower decrease in balance.\nany payment amount will result in the same balance over time.\nthe type of payment does not affect the balance

the graph shows a credit card balance over a 12 - month period with a fixed payment of $100 and a higher fixed payment of $200 at an apr of 25%.\nwhat is the effect of different fixed payments on a $2,000 credit card balance with an apr of 25% over 12 months?\nlower payments lead to a faster decrease in balance.\nlower payments result in a slower decrease in balance.\nany payment amount will result in the same balance over time.\nthe type of payment does not affect the balance

Answer

Brief Explanations:

Looking at the graph, the line representing the higher payment ($200) decreases more steeply than the line representing the lower payment ($100). This means that a lower payment amount (like $100) will result in a slower reduction of the credit - card balance over the 12 - month period compared to a higher payment amount.

Answer:

Lower payments result in a slower decrease in balance.