At the start of january, you have a credit card with a balance of $498, a credit limit of $900, and an interest rate of 15%. you make monthly payments of $35. at the end of which month will your balance be below the target debt ratio.

do the month to month calculations, since the maximum number of months is four, and minimum 2. Target debt is $900/2=450 or less. ASSUME payment is at the end of the month, then At the end of January: Debt carried over=$498 add interest = $498*0.15/12)=$6.30; total debt=498+6.30=504.30 debt after payment = 504.30-35=$469.22 At the end of February: continue as above until debt after payment is at or below $450.

50 % is the answer !