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Debt Management: Strategies for Getting Out and Staying Out
Question 1 of 7
Multiple choice
What is the main advantage of the debt avalanche method over the debt snowball method?
It pays off debts faster in terms of number of accounts closed
It minimizes total interest paid by targeting the highest-rate debt first — mathematically the lowest-cost strategy
It provides more psychological wins early in the process
It is supported by more credit counseling agencies
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