Question

NEED HELP THANKS :)

After how many months will Rita pay one hundred dollars in simple annual interest on a credit card that charges twelve percent on her five hundred dollars balance?

2 months

4 months

fourteen months

twenty months

Answer 1

) I = Prt
100 = (500)(0.12)t
100 = 60t
100/60 = t
t = 1 2/3 years = 20 months (fourth choice)

Answer 2

Thank you :)

Answer 3

your welcome ;-)