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Which method of paying off credit card debt will save

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Reference no: EM132773224

Problem 1: Gabe has an outstanding balance on four different credit cards. Which method of paying off his credit card debt will save him money and results in the fastest payoff of one of the debts?

1) paying the minimum balance each month

2) making fixed payments

3) snowballing his payments according to the highest interest rate

4) snowballing his payments according to the lowest balance

Reference no: EM132773224

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