Question

Jackson has a credit card with a 15% interest rate. His dad has a credit card with a 5% interest rate. If they both charge $1,000, how much more will Jackson end up paying?

A. $500
B. $250
C. $100
D. $125

Answer 1

Option C, $100

Step-by-step explanation:

Percent of interest rate on Jackson card
`= 15`%

Percent of interest on Jackson's dad card
`= 5`%

They both take money
`= 1000`$

The interest amount on Jackson card

`= (15)/(100) * 1000\\= 150`$

The interest amount on Jackson's father card

`= (5)/(100) * 1000\\= 50`$

Difference between the two interest amount

`= 150-50\\=100`$

Jackson end up paying $
`100` more than his father

Correct answer is option C.

Answer 2

"$100" is the one amount among the choices given in the question that Jackson will end up paying more. The correct option among all the options that are given in the question is the third option or option "C". I hope that this is the answer that has basically come to your desired help.