pete has a balance of $1800 on his credit card. which he plans to pay off by making a payment of the same amount each month. which of these monthly amounts will allow pete to pay off his balance the fastest?

Question

anonymous · Answer

what are the choices?

anonymous · Answer

A. $50
B. $40
C. $60
D. $80

anonymous · Answer

the largest amount of money per month would make him pay off the debt fastest

anonymous · Answer

but how do u find that out, from the choices?

amistre64 · Answer

... just determine which amount you would want to have in your pocket if someone owed you money :/

anonymous · Answer

you don't have to do any math, its a trick question. Think about it. if you pay 100 dollars a month, it will take you less time to finish paying it off than if you payed 20 dollars per month (:

anonymous · Answer

if you want to test it out with math, you can. if I owe 1000 dollars and I pay 100 a month, it will take 10 months to pay off my debt. but if I pay 200 a month, it will only take 5 months (:

anonymous · Answer

alright yeah i got it thank you (:

anonymous · Answer

no problem (: