Question

Darlene has a balance of $3980 on a credit card with an APR of 22.8%. Paying off her balance in which of these lengths of time will result in her paying the least amount of interest?

A.10 months
B.8 months
C.4 months
D.6 months

Answer 1

Answer:4 months

Explanation:

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Answer 2

For interest yeilding credit card balance, the sooner the balance is paid off the lesser the interest that will be paid.

Therefore, given that Darlene has a balance of $3980 on a credit card with an APR of 22.8%. Paying off her balance in 4 months will result in her paying the least amount of interest.