A credit report has the following accounts open with the balance, credit limit, and duration of time each account has been open. Car Loan 3 Years 4 Months Credit Card 1 1 Month Balance: $500 Limit: $1000 Credit Card 2 4 Years 11 Months Balance: $500 Limit: $10,000 Credit Card 3 2 Years 2 Months Balance: $4500 Limit: $5000 Calculate the average credit age. Group of answer choices

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.6: Permutations
Problem 22E
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A credit report has the following accounts open with the balance, credit limit, and duration of time each account has been open.

Car Loan 3 Years 4 Months
Credit Card 1

1 Month

Balance: $500

Limit: $1000

Credit Card 2

4 Years 11 Months

Balance: $500

Limit: $10,000

Credit Card 3

2 Years 2 Months

Balance: $4500

Limit: $5000

Calculate the average credit age.

Group of answer choices
 
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