Question

greg used his credit card to buy exercise equipment. the cost was $826.38.
if greg pays $50 a month for 20 months, the total interest will be $139.33.
greg decided instead to pay only the minimum amount each month. that will take him 124 months and the total
interest will be $1,038.08.
how much would greg have saved if he had paid $50 a month instead of the minimum amount?
greg would have saved $\boxed{}.

Explanation:

Step1: Identify interest amounts

Minimum payment interest: $1,038.08; $50/month interest: $139.33

Step2: Calculate savings

Subtract lower interest from higher interest: $1038.08 - $139.33 = $898.75

Answer:

898.75