Question

The table shows Mr. Winkler’s schedule for paying off his credit card balance. A 5-column table with 4 rows. Column 1 is labeled Balance with entries 650 dollars, 556 dollars and 60 cents, 462 dollars and 8 cents, 366 dollars and 42 cents. Column 2 is labeled payment with entries 100 dollars, 100 dollars, 100 dollars, 100 dollars. Column 3 is labeled new balance with entries 550 dollars, 456 dollars and 60 cents, 362 dollars and 8 cents, 266 dollars and 42 cents. Column 4 is labeled rate with entries 0.012, 0.012, 0.012, 0.012. Column 5 is labeled interest with entries 6 dollars and 60 cents, 5 dollars and 48 cents, 4. dollars and 34 cents, 3 dollars and 20 cents. If he continues to make monthly payments of $100, and makes no new purchases, how many more payments will he have to make before the balance is zero?

Answer 1

Mr. Winkler will have to make 4 more payments before the balance is zero.

Step-by-step explanation:

To calculate how many more payments Mr. Winkler will have to make before the balance is zero, we need to determine the number of times he needs to make a payment of $100 that reduces the balance to zero. We can do this by finding the new balance after each payment and checking if it reaches zero. Here is the step-by-step calculation:

1. Start with the initial balance of $650. Subtract the first payment of $100 to get a new balance of $550.
2. Repeat the process for the second payment. Subtract $100 from the new balance of $550 to get a new balance of $450.
3. Continue for the third and fourth payments. Subtract $100 from the new balance after each payment to get the new balance.
4. Stop when the new balance reaches zero.

In this case, Mr. Winkler will have to make 4 more payments before the balance is zero.