Making the minimum payment on a credit card bill each month

will not improve your credit score.

ensures that late payment penalties will not be imposed.

ensures that the balance will be repaid in the minimum time period.

will not significantly reduce the overall debt.The most important factor determining your FICO score is:

whether you make timely payments on your debt obligations.

whether you have too many credit cards.

how long your credit history is$.$

how much you currently owe.The method most commonly used by financial institutions to determine finance charges on consumer loans is the

simple interest method.

discount interest method.

compound interest method.

add$-$on interest method.What is your debt payment ratio if your after$-$tax monthly income is $$2,000$ and your monthly debt payments total $$400?$

$40\%$

$10\%$

$20\%$

$5\%$