Which situation is best? (1 point)having $3,280.00 in a savings account earning a 4.25% apr and $1,320.00 due on a credit card with a 13.5% apr having $2,013.85 on a credit card with a 9.85% apr having $524.85 on a credit card with a 8.4% apr and $790.00 in a savings account at a 4.35% apr having $1,040.00 on a credit card with a 4.9% apr,

The best situation is #1, having $3,280.00 in savings account earning a 4.25% APR and $1,320.00 due on a credit card with a 13.5% APR. I just took the test, and this was the correct answer.

Explanation:

Interest Accrued: ($3,280.00)(0.0425)(1/12) = 11.62

Interest Accrued: ($1,320.00)(0.135)(1/12) = 14.85

Take in consideration for number #1 that there are plenty in savings with low interest, enough for you to pay off the credit card and still have money left.

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