Question
A credit card company charges 7% simple interest. What is the total interest on a $1,900 loan at the end of two years?
Answers
Ms. Sue
A credit card company expects a minimum payment each month, with interest required on the remaining balance.
Anonymous
It's a math word problem I need to know what to do. I don't care about that.
Ms. Sue
I = PRT
I = 1,900 * 0.07 * 2
I = 1,900 * 0.07 * 2
Anonymous
Thank you
$266, is this correct?
$266, is this correct?
Ms. Sue
Yes, that's correct.