Question

You are paying 11% interest on a credit card balance of $2,000. Which of the following best estimates the interest you are paying each month

Answer 1

Answer: $200 because 11% times $2,000 would be $200

Answer 2

Answer:A ) $18.33

Step-by-step explanation:

$2,000 * 0.11 = $220 ( for a year )

Each month: 220 : 12 = $18.3333

Answer: A ) $18.33