Question

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

The amount in the ______ column represents the amount of credit that Sheldon is currently using. If the credit line on Sheldon’s card is $5,000, Sheldon’s current available credit is ______.

Please use the image(s) to help you answer the question. It contains the table which you'll need to answer the question. I even added the answer responses for the blanks.

Answer 1

Answer: 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 $5,000, Sheldon's current available credit is $4,642.18.

Explanation:

There are 2 methods of solving this problem.

First method:

So, first before you do this problem, you're going to need this formula:

Available Credit = Credit Line - New Balance

Available Credit = $5,000.00 - $357.82

Subtract that, & you get $4,642.18.

Second Method:

So for the second method I subtracted each of the answers in the 2nd blank by the Credit Line, which in this case it's $5,000.00.

$5,000.00 - $3,477.98 = $1,522.02 (❌)

$5,000.00 - $4,642.18 = $357.82 (✔️)

$5,000.00 - $4,760.50 = $239.50 (❌)

So, 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 $5,000, Sheldon's current available credit is $4,642.18.