3
QuizMultiple Choice

Personal Net Worth — Quiz

Question 3 • Advanced Financial Algebra

How can Amrom improve his net worth by addressing his credit card debt?

Answer
A
continue making only the minimum payments on his credit card debt
B
use his income to take out another credit card to finance purchases
C
apply for another credit card to increase his available credit
D
use a portion of his income to make extra payments on his credit card debt

Explanation

Net worth is what Amrom owns minus what he owes. Using part of his income to make extra payments reduces his credit card balance, so his debt—and the interest that may build on it—can decrease faster. Making only minimum payments or taking on another card does not address the debt as effectively.

AI-written and checked against the verified answer.

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