Susan has a credit card balance of $4000. her annual interest rate is 18%. if she pays $366.72 a month she will pay the balance off in 1 year. if she pays $199.70 a month she will pay the balance off in 2 years. what is the overall financial benefit of susan paying the credit card balance off in 1 year instead of 2?

$392.16 in interest saved

The payoff in 1 year costs a total of 12 × $366.72 = $4400.64.

The payoff in 2 years costs a total of 24 × $199.70 = $4792.80.

Paying off the balance in 1 year saves interest charges of ...

... 4792.80 -4400.64 = $392.16

the answer is b.)

< 1=< 2

the answer is 1 becuz if it were 1.0 that would rip apart the entire so ya. : )

~potato.

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