Cost of Credit Card Debt Sue and Jerry were living paycheck to paycheck. They never made saving for a rainy-day a priority. However, they decided to take a much-needed vacation that cost $2,000. They decided to fund this by charging it to their credit card. Luckily, they had a lovely time. However, on their way home, they got a flat tire. When they took the car to the repair shop, the mechanic said they actually needed 4 new tires with a total cost was $800. When they got home, they learned that their refrigerator went out and could not be repaired. A new refrigerator cost them $1,000. They charged all of these expenses to their credit card. Now they have a balance of $3,800 on their credit card and they want to figure out how best to attack this. Assume for all situations, that they make no further charges to the credit card.

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To tackle their credit card debt of 3800 Sue and Jerry need to come up with a plan Here are a few op... View the full answer