Question

John receives his credit card bill which shows a balance of $1,026.To pay the credit card off, he pays $50 a month toward his balance. Assuming johns credit card is interest free write an equation to model him paying off the balance on his card next describe the y intercept in terms of the problem

A) $1026
B) $50
C) $0
D) $976

Answer 1

To model John paying off the balance on his credit card, we can use the equation: Balance = Beginning Balance - (Monthly Payment * Number of Months). The y-intercept, which represents the balance when the number of months is 0, is $1026.

Step-by-step explanation:

To model John paying off the balance on his credit card, we can use the equation:

Balance = Beginning Balance - (Monthly Payment * Number of Months)

In this case, John's beginning balance is $1,026 and he pays $50 per month. Let's assume it takes 'x' months to pay off the balance. The equation would be:

1026 = 1026 - (50 * x)

Simplifying this equation, we get:

0 = -50x + 1026

The y-intercept of this equation is the value of 'y' (the balance) when 'x' (the number of months) is 0. In this case, the y-intercept is $1026. Option A) $1026 is the correct answer.