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faltersainse [42]
2 years ago
7

“I really feel like it’s time for me to get a credit card. I learned how important

Mathematics
1 answer:
Gennadij [26K]2 years ago
5 0

The first misconception is that the balance shouldn't be paid off in full in order to boost the credit score. This is simply not true. You can pay off all of the balance and it will actually improve the score. The score reflects the ability to pay borrowed money back. A credit card is basically a micro-loan of sorts. So if George pays off the balance, he's paying back the credit card company and that tells the company (and others) that his ability to pay is good. Plus it tells about his priorities which is what the credit score indirectly indicates. Other companies will see that George can pay the money back, so they'll be more eager to lend to him.

The other misconception is that being late is fine and improving the payment habits is what brings up the score. This is murky gray area and somewhat true but also somewhat false. What happens is that if you are late then your score goes down by some amount. When you improve the payment habits, the score goes back up. Whether it goes back to the original value or larger depends on the situation. So the second claim George makes is technically true, but there's broader context to consider. It's similar to how if you shoot yourself in the foot in some videogame, and then let your foot heal up, then you're increasing health points. The first act shouldn't have needed to happen and it reflects a weird backwards thinking. If anything, it wastes time where George could have simply been improving the score (rather than decrease it only to increase it back).

The reality is that keeping up with the payments in a timely fashion is what keeps the credit score healthy. Once again, the score reflects someone's ability to pay back borrowed money. It applies to any kind of loan, which a credit card is a part of.

-----------------

In short, George is mistaken by two claims he makes

  • Not paying off the balance in full improves the credit score
  • Being late on payments, and then improving payment habits, will increase the credit score

When in reality keeping up with payments and paying off the balance will improve the credit score. There's no need to hinder oneself on purpose in the goal of improving from that contrived setback.

Side note: the credit card company wants you to carry a balance so they can charge interest on said balance. That's how they make most of their money. However, even if you go against the wishes of the credit card company, they won't ding you credit score points for paying off the balance in full.

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Out of the 100 people in the sample, 72% said they preferred pizza. That 72% should be the same for the whole school.

1500 × .72 = 1080

about 1080 students in the school prefer pizza

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Marice mows the lawns on Saturday. Last week it took him 5 1/2 hours to finish. This week it took only 5 hours. How many times l
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19. At a boardroom meeting, the sales manager is happy to announce that sales have risen from $850,000 to $1,750,000 at a
klasskru [66]

The number of years it would take sales to reach $1,750,000 is 14.65 years.

<h3>What is the number of years?</h3>

The formula that can be used to determine the number of years it would take for the sales to reach $1,750,000 is:

Number of years : In (FV / PV) / r

Where:

  • FV = future level of sales -  $1,750,000
  • PV = present level of sales = 850,000
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Number of years : In ($1,750,000 / 850,000) / 0.04931998

Number of years : In (2.06) / 0.04931998

Number of years : 14.65 years

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Bobby catches 8 passes in 3 football games. At this rate, how many passes does he
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Answer:

40 passes

Step-by-step explanation:

we know that

Bobby catches 8 passes in 3 football games

so

using proportion

Find out how many passes does he  catch in 15 games

\frac{8}{3}=\frac{x}{15}\\\\x=8(15)/3\\\\x=40\ passes

7 0
3 years ago
Read 2 more answers
A car dealership has 24ft of dividers with which to enclose a rectangular play sace
alina1380 [7]

Answer:

A)  Area = A(x) = 24x - x^2

B)  Domain = {x < 24}

Step-by-step explanation:

<u>Complete Question:</u>

A car dealership has 24ft of dividers with which to enclose a rectangular play space in a corner of a customer lounge. The sides against the wall require no partition. Suppose the play space is x feet long.  

A) express the area of the play space as a function of x

B) find the domain of the function

Solution:

A)

The rectangle has area of length * width

length is x

so width will be 24 - x

Hence, the area will be:

Area = x(24 - x)

Area = A(x) = 24x - x^2

B)

Domain is the set of x values that make the function defined.

The domain will be all values less than 24.

Because if you take 24, the area would be 0 [doesn't make sense]

if you take anything over 24, the area would be negative [not possible]

Hence, the domain is:

Domain = {x < 24}

6 0
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