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?
A.
10 months
B.
11 months
C.
14 months
D.
18 months
To determine how long Hannah will need to pay off her balance on Credit Card #2, we need to divide the total balance by the monthly payment amount.
Total Balance: $1,600
Monthly Payment: $114
To calculate the number of months required, we divide the total balance by the monthly payment:
$1,600 / $114 = 14.04 (rounded to 2 decimal places)
Therefore, Hannah will need approximately 14 months to fully pay off her balance on Credit Card #2.
The correct answer is option C: 14 months.
To calculate how long Hannah will need to pay off her balance on Credit Card #2, we divide the total balance by the monthly payment amount.
$1600 / $114 = 14.035 (rounded to 3 decimal places)
Therefore, Hannah will need to pay off her balance in approximately 14 months.
The correct answer is C. 14 months.