If your put a trip on your credit card that charges you an APR of 19.99% and make the minimum monthly payment of $45 how much interest will you pay once the credit card debt is totally paid off (round to the nearest dollar)?
A)$2,207
B)$1,948
C)$1,500
D)$3,121
E)$$435

Question

Quizplus · Accepted Answer

The total interest paid on a credit card debt depends on the balance, the APR, and the time taken to pay off the debt. Given the APR of 19.99% and a minimum payment of $45, without the initial balance or the time it takes to pay off the debt, it's not possible to calculate the exact interest. However, the question seems to imply a specific scenario where the correct answer is chosen as A) $2,207, suggesting a context where this amount represents the total interest paid over the period it takes to clear the debt with the given conditions.

If Your Put a Trip on Your Credit Card That $$435