5. review the how it works section of each strategy. draw a line from the strategy to the explanation that…

5. review the how it works section of each strategy. draw a line from the strategy to the explanation that best describes it.\na. debt snowball\na. you make the required minimum payment on each debt with no extra payments\nb. minimum payments\nb. you pay the minimum on all debts and send any extra money to the debt with the highest interest rate first\nc. debt avalanche\nc. you pay the minimum on all debts and send any extra money to the debt with the smallest balance first\n3. after using the calculator with an extra $100 per month payment:\na. which method helps you pay off your debt fastest?\nb. which one costs the most in interest?\nc. which one gets your first debt paid off soonest? (click the buttons below each strategy to see detailed information)\n4. if the avalanche method costs the least overall, why might someone choose to use the minimum payments or snowball method?

5. review the how it works section of each strategy. draw a line from the strategy to the explanation that best describes it.\na. debt snowball\na. you make the required minimum payment on each debt with no extra payments\nb. minimum payments\nb. you pay the minimum on all debts and send any extra money to the debt with the highest interest rate first\nc. debt avalanche\nc. you pay the minimum on all debts and send any extra money to the debt with the smallest balance first\n3. after using the calculator with an extra $100 per month payment:\na. which method helps you pay off your debt fastest?\nb. which one costs the most in interest?\nc. which one gets your first debt paid off soonest? (click the buttons below each strategy to see detailed information)\n4. if the avalanche method costs the least overall, why might someone choose to use the minimum payments or snowball method?

Answer

Explanation:

Step1: Understand debt - repayment methods

Debt Snowball pays smallest - balance debt first. Minimum Payments just make minimum payments. Debt Avalanche pays highest - interest debt first.

Step2: Analyze which pays off debt fastest

Debt Avalanche focuses on high - interest debts, reducing overall interest and paying off debt faster.

Step3: Analyze which costs most in interest

Minimum Payments, as it doesn't target high - interest debts, will accrue more interest over time.

Step4: Analyze which pays off first debt soonest

Debt Snowball pays off the smallest - balance debt first.

Answer:

a. Debt Avalanche b. Minimum Payments c. Debt Snowball