Question

After how many months will Rita pay two hundred dollars in simple annual interest on a credit card that charges fifteen percent on her four hundred dollars balance?

2 months

fifteen months

twenty-eight months

forty months

Answer 1

As given:

P = $400
R=15%(whopping high rate man)

\[T = \frac{ I \times 100 }{ P \times R} = 200 \times 100 / 400 \times 15 = \frac{ 50 }{ 15} = 3 months\]
..Not sure ..what's the correct answer?

Answer 2

Maybe it can be 2 months?

Answer 3

yes 2 months

Answer 4

because when i did the math i got 2.3

Answer 5

months

Answer 6

Thanks Cram.

Answer 7

welcome