When using the 'debt avalanche' method to pay off multiple debts, which debt should be prioritized for extra payments?
✓ Correct Answer: Option C
The debt avalanche method focuses on paying off the debt with the highest interest rate first, after making minimum payments on all debts. This strategy saves the most money on interest over time.
📚 About This General Knowledge Practice Question
This 4-level General Knowledge question from the Abbreviations & Full Forms topic is part of One Paper Preparation's free exam preparation library. Each question includes the correct answer and a detailed explanation to help you understand the underlying concept, not just memorize the answer.
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