paying off debt is an important step towards financial freedom. there are two popular methods for repaying…

paying off debt is an important step towards financial freedom. there are two popular methods for repaying debt: the snowball method and the high rate method. which method takes longer to see progress? choose 1 answer: a snowball method b high rate method

paying off debt is an important step towards financial freedom. there are two popular methods for repaying debt: the snowball method and the high rate method. which method takes longer to see progress? choose 1 answer: a snowball method b high rate method

Answer

Answer:

A. snowball method

Brief Explanations:

The snowball method focuses on paying off smaller debts first. While it gives psychological wins early, it can take longer to see significant overall progress compared to the high - rate method (which pays off high - interest debts first, reducing total interest paid and accelerating debt elimination).