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Greg used his credit card to buy exercise equipment. The cost was $826.38.If Greg pays $50 a month for 20 months, the total interest will be $139.33.Greg decided instead to pay only the minimum amount
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Greg used his credit card to buy exercise equipment. The cost was $826.38.If Greg pays $50 a month for 20 months, the total interest will be $139.33.Greg decided instead to pay only the minimum amount each month. That will take him 124 months and the total interest will be $1,038.08.How much would Greg have saved if he had paid $50 a month instead of the minimum amount?

User Drew Blas
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2 Answers

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Answer: The correct answer is $898.75

Step-by-step explanation:

User Rajgopal C
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7.4k points
1 vote
The answer is $898.75
User Khasha
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6.9k points
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