JoanabaD8arkdorianH JoanabaD8arkdorianH

15-08-2016
Mathematics

Answered

You are paying 11% interest on a credit card balance of $2,000. Which of the following best estimates the interest you are paying each month?

A$11.00
B$13.33
C$15.33
D$18.33

Verified Answer :

HomertheGenius HomertheGenius

18-08-2016

$2,000 * 0.11 = $220 ( for a year )
Each month: 220 : 12 = $18.3333
Answer: A ) $18.33

Answer Link

Hussain514 Hussain514

19-08-2016

As we know that
I=Prt
simply putting the values
I=2000.111/12
=220*1/12
=18.33
so correct option is D
hope it helps

Answer Link

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