Question

Melvin has a balance of $5140 on a credit card with an APR of 17.6%. Paying off his balance in which of these lengths of time will result in him paying the least amount of interest?

Answer 1

The fastest he possibly can pay it off will result in him having the least amount of interest.

Explanation:

Since interest accrues over time, we want that time to be as little as possible in order to be the smallest possible amount.

Answer 2

6 months

Explanation:

the fastest