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PLEASE HURRY, ME AND MY FRIEND NEED HELP WITH THIS QUESTION Terri has a balance of $795 on his credit card. He is currently making monthly credit card payments of $20 a month. What will happen if he increases
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PLEASE HURRY, ME AND MY FRIEND NEED HELP WITH THIS QUESTION

Terri has a balance of $795 on his credit card. He is currently making monthly credit card payments of $20 a month. What will happen if he increases the amount he is paying by $18 a month?
A. It will take him less time to repay the loan
B. The interest rate will increase
C. It will take him longer to repay the loan
D. The interest rate will decrease

User Baao
by
3.8k points

1 Answer

4 votes

Answer: A

Explanation:

If he increases the amount then the less time it will take to pay the loan

User Larzan
by
2.7k points
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