Question

For Jack's birthday, his mom is taking him and 12 friends to the zoo. If she pays $11 for each ticket using her credit card, what impact will it have on the available credit left on her credit card?

Answer 1

Answer with explanation:

Total number of people who are going to zoo are:14.

( since mom+his son+his son's 12 friends=14 people)

now price of one ticket=$ 11.

this implies that the cost of 14 tickets=11×14=$ 154.

Hence, the remaining balance left in the credit card will be:

Available balance-Cost of all tickets.

=Available balance-$ 154.

Hence, the  impact it will  have on the available credit left on her credit card is that her balance will decrease by $ 154.

Answer 2

Jack's mom is purchasing thirteen tickets at a price of $11 each. This equals a total of $143 in total spent. If Jack's mom has a credit card limit of $500, then after purchasing $143 with the card, her available amount to purchase additional things is $357. This impact on her available credit is due to credit cards working on an available balance system. When Jack's mom first received her credit card, a set balance or total amount she could purchase with the card was set. In this example, her total amount she could purchase with the card was $500. After her purchase of the tickets for $143 was completed, she subtracted that amount from her total available of $500 and that is why her available amount to purchase is now $357.