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Jeff's credit card charges an annual rate of 5% simple interest. The balance on his card is $300, and he makes interest-only payments for one year. How much interest will h…

Jeff's credit card charges an annual rate of 5% simple interest. The balance on his card is $300, and he makes interest-only payments for one year. How much interest will h…
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jeff's credit card charges an annual rate of 5% simple interest. The balance on his card is $300, and he makes interest-only payments for one year. How much interest will he have paid by he end of that year?

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User Swagath
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7.9k points

1 Answer

6 votes

Answer: 60

Explanation:

answered
User Waldelb
by
8.4k points
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