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Select the correct answer from each drop-down menu.

\begin{tabular}{|l|l|c|l|l|l|}
\hline
Summary & \begin{tabular}{l} Previous \\ Balance \end{tabular} & Payments/Credits & \begin{tabular}{l} New \\ Purchases \end{tabular} & \begin{tabular}{l} Finance \\ Charge \end{tabular} & \begin{tabular}{l} New \\ Balance \end{tabular} \\
\cline{2-6}
& \[tex]$239.50 & \$[/tex]250.00 & \[tex]$356.04 & \$[/tex]12.28 & \[tex]$357.82 \\
\hline
\end{tabular}

Based on this summary of Sheldon's credit card statement, complete the following statements.

The amount in the $[/tex]\square[tex]$ column represents the amount of credit that Sheldon is currently using. If the credit line on Sheldon's card is \$[/tex]5,000, Sheldon's current available credit is [tex]$\square$[/tex].



Answer :

GinnyAnswer
Let's break down the problem step-by-step.

Given the credit card statement summary:
- Previous Balance: [tex]$239.50 - Payments/Credits: $[/tex]250.00 (this is a credit, so it reduces the balance)
- New Purchases: [tex]$356.04 - Finance Charge: $[/tex]12.28
- New Balance: [tex]$357.82 Now, the first statement is: "The amount in the $[/tex]\square[tex]$ column represents the amount of credit that Sheldon is currently using." The New Balance represents the amount of credit Sheldon is currently using. So, the amount in the $[/tex]\square[tex]$ column should be $[/tex]357.82.

The second statement is:
"If the credit line on Sheldon's card is [tex]$5,000$[/tex], Sheldon's current available credit is [tex]$\square$[/tex]."

To find the current available credit, subtract the New Balance from the Credit Line:
[tex]$5,000 - $[/tex]357.82 = [tex]$4,642.18$[/tex]

So, Sheldon's current available credit is [tex]$4,642.18. Therefore, the completed statements should be: "The amount in the New Balance column represents the amount of credit that Sheldon is currently using. If the credit line on Sheldon's card is $[/tex]5,000, Sheldon's current available credit is $4,642.18."

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