Avalanche Mehod Quiz

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Avalanche Mehod Quiz

1. When doing the avalanche method, start by arranging your account by___

 
 
 
 

2. These are the steps for the Avalanche Method. First, arrange your accounts from highest interest rate to lowest interest rate. Second, pay the minimum on the account with the lowest interest rate. Third, apply all extra money toward the account with the highest interest rate. Fourth, once that account is paid off, rollover the payments to next account with the highest interest rate. Continue this till all accounts are paid off.

 
 

3. What does APR stands for and what is it?

 
 
 
 

4. According to the Avalanche Method, accounts that do not incur interest should be prioritized last on debt payoff list.

 
 

5. If I don’t know the interest rates for my accounts I can still participate in the Avalanche Method by simply arranging my accounts from highest payments to lowest payments.

 
 

Question 1 of 5

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