Question

Hannah has a $1,600 balance on Credit Card #2. She wants to pay off her balance on this card within 12 months. If she keeps paying $114 each month, how long will she need to pay her balance? (1 point) Responses 10 months 10 months 11 months 11 months 14 months 14 months 18 months

Answer 1

To determine how long Hannah will need to pay off her $1,600 balance on Credit Card #2 by paying $114 each month, we can divide her total balance by her monthly payment.

1. Start with the total balance: $1,600
2. Monthly payment: $114

Now, we calculate the number of months needed to pay off the balance:

\[
\text{Number of months} = \frac{\text{Total Balance}}{\text{Monthly Payment}} = \frac{1600}{114} \approx 14.04
\]

Since she can't make a fraction of a payment, we round up to the next whole number. This means she'll need 15 months total to pay off her balance if she continues to pay $114 each month.

However, since 15 months is not one of the provided options, we check for monthly payments that could add up to (or exceed) the total within the timeframe given:

- 10 months: \( 10 \times 114 = 1140 \) (not enough)
- 11 months: \( 11 \times 114 = 1254 \) (not enough)
- 12 months: \( 12 \times 114 = 1368 \) (not enough)
- 13 months: \( 13 \times 114 = 1482 \) (not enough)
- 14 months: \( 14 \times 114 = 1596 \) (almost enough)
- 15 months: \( 15 \times 114 = 1710 \) (too much, but needed to cover full balance)

Since the closest answer under the constraints given is **14 months** (and covers almost the full balance), the answer is:

**14 months**