Alicia's class can make 16 care packages with 500 food items.
To find out how many care packages Alicia's class can make with 500 food items, we can set up a proportion using the given information. The proportion is:
8 care packages / 240 food items = x care packages / 500 food items
Cross multiplying, we get:
240x = 8 * 500
x = (8 * 500) / 240
x = 16.67
Since we can't make a fraction of a care package, we round down to the nearest whole number. Therefore, Alicia's class can make 16 care packages with 500 food items.
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B. You will never have the credit card paid off.
C. You will have it paid off within 5 years.
D. You will have the credit card paid off within 10 years.
Answer: The credit card will paid off within 10 years, therefore the correct option is D.
Explanation:
Let the number of years in which the credit card will aid of be x.
It is given that amount owed on credit card is $1000 with interest rate 27.99%.
So the amount of interest is calculated as,
The total amount have to pay is,
The minimum payment is $20 each month.
So, the credit card will paid of in 63.995 months. We know that 1 year =12 months.
Therefore, the will paid of in 5.33 years, s we can say that the credit card will paid off within 10 years, therefore the correct option is D.
The correct answer is not listed; it would take significantly longer than 10 years to pay off a $1,000 credit card debt at 27.99% APR by making only $20 minimum payments due to the high interest rate.
When dealing with credit card debt, it is crucial to understand the impact of making only minimum payments, especially when the interest rate is high. In the example provided, a credit card balance of $1,000 with an annual percentage rate (APR) of 27.99% and a minimum payment of $20 per month would take much longer than any of the given options to pay off if one were to only make minimum payments. Calculations using a debt repayment calculator or an amortization formula would show that the option of paying it off within 1, 5, or even 10 years by making minimum payments only is not feasible due to the high-interest costs that add up each month. The correct answer would be similar to the situation in which it takes about 15 years to pay off a $2,000 debt, making minimum payments will eventually lead to a payoff, but with a larger cost in interest over time.