Mathematics, 11.03.2020 19:50 seannasal2804
Jill has a balance of $5,000 on her credit card with an annual interest rate of 15%. To pay off the $5,000 in three years, Jill will have to make a minimum payment of $173.33 per month.
Jim has a balance of $5,000 on his credit card with an annual interest rate of 10%. To pay off the $5,000 in five years, Jim will have to make a minimum payment of $106.24 per month.
Who will pay more during the length of their loan and by how much?
A) Jim will pay $134.52 more.
B) Jim will pay $250.00 more.
C) Jill will pay $250.00 more.
D) Jill will pay $134.52 more.
Answers: 1
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Jill has a balance of $5,000 on her credit card with an annual interest rate of 15%. To pay off the...
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