Question

Assume you have a balance of $1,900 on a credit card.

If the credit card has an annual interest rate of 13.6% and only the minimum monthly
payment of $35 is made, how many months will it take to pay off the credit card?

Answer 1

principal=$1900

rate =13.6 %

simple interest= $35

Time=?

SIMPLE INTEREST ={PRINCIPAL×RATE×TIME}/{100}

$35=
`{$1900 ×13.6× TIME}{100} /`

$35×100=25840× TIME

TIME=
`\bold( 3500)/(25840)`

TIME=
`700/5168`

TIME=
`{\tt{\green{\underline{\underline{\huge{0.1354489164}}}}}}` years

sorry I can't solve wrong answer