Question

A customer has a credit card that charges 18% simple interest every year. How much interest will the customer save

by paying off a credit card debt of $5,000 at the end of 1 year instead of at the end of 3 years?
$300
B $600
$900
D$1,800

Answer 1

$900

Explanation:

18% of $5000

0.18×5000=900

The customer will save $900