The Cost of Credit Answers

How much will Ava pay in interest if she pays back the card in 11 months?$10$16$13.06$32

Jason has a credit card that charges 2% interest on unpaid balances each month. He spent $300, but only makes the minimum payment of $30 a month when the bill is due. What is the balance on his credit card account after making his payment at the end of the fourth month?

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How much will Ava save immediately if she uses the credit card and pays the balance during the billing cycle?$5$10$15$20

The Lagan family bought a $150,000 home in 2002. They obtained a mortgage loan for 30 years. The monthly payments, not including property taxes and insurance, are $895.00. Assuming these monthly payments do not change, how much interest will be paid on the house during the 30 years?(Monthly Payment)(12 months per year)(30 years)(895)(12)(30) = $322,200 total amount paid (principal and interest)

The table shows Mr. Winkler’s schedule for paying off his credit card balance. A 5-column table with 4 rows. Column 1 is labeled Balance with entries 650 dollars, 556 dollars and 60 cents, 462 dollars and 8 cents, 366 dollars and 42 cents. Column 2 is labeled payment with entries 100 dollars, 100 dollars, 100 dollars, 100 dollars. Column 3 is labeled new balance with entries 550 dollars, 456 dollars and 60 cents, 362 dollars and 8 cents, 266 dollars and 42 cents. Column 4 is labeled rate with entries 0.012, 0.012, 0.012, 0.012. Column 5 is labeled interest with entries 6 dollars and 60 cents, 5 dollars and 48 cents, 4. dollars and 34 cents, 3 dollars and 20 cents. If he continues to make monthly payments of $100, and makes no new purchases, how many more payments will he have to make before the balance is zero?

Candice wants to buy a $2500 scooter with a loan from her local bank. Which loan option would be best for Candice if she wants the lowest interest rate and wants to pay off the scooter within 5 years.

What is the total amount of interest Shelby will pay for the car loan?$1157.28$2478.58$7000$9478.58

How many more years will it take Shelby to pay off her loan? 1234