Question

You are paying 11% interest on a credit card balance of $2,000. Which of the following best estimates the interest you are paying each month?
a) $11.00
b) $13.33
c) $15.33
d) $18.33
Will fan and medal,

Answer 1

$2000*11/100=$220 for the whole year
$220/12 (months in a year)=$18.33
d) $18.33

Answer 2

answer is very simple. first you divide 11 by 12 (12 months in a year). you get .9166. next divide 2000 by 100 and multiply by .9166 to get D.) 18.33. i hope this helps.