Question

Jarrod resolves to pay off all of his credit card debt before the end of the year. In order to make the payments manageable, he has broken them into installments. He will pay a fixed amount, $200, every month until he has paid off all of his credit cards. The equation below describes the relationship between the number of elapsed months (x) and the amount left to pay (y). [{(y = 2400 - 200x)}] What is the amount of his credit card debt? thanks

Answer 1

Jarrod's credit card debt is initially $2400, according to the given equation. This is demonstrated by setting x=0 in the equation, which yields:

y = 2400 - 200(0) = 2400

Jarrod's credit card debt is thus $2400.

Explanation: