“If I pay 10% extra of my regular charge the each month on my bill of the $35.00, ong guntili have buiteup a full month’s credit? esentative: “You will have a full month’s credit in the months:”
The correct answer and explanation is:
If you pay 10% extra of your regular monthly bill of $35.00 each month, the total amount of extra payments will eventually add up to $35.00 (one full month’s bill). Here’s the calculation and explanation:
Step 1: Calculate 10% of the Monthly Bill
10% of $35.00 is: 10%×35=3.5010\% \times 35 = 3.50
Step 2: Determine the Number of Months Needed
To accumulate a full month’s credit of $35.00 by paying an additional $3.50 each month, divide $35.00 by $3.50: 35÷3.50=10 months35 \div 3.50 = 10 \text{ months}
Thus, it will take 10 months of paying 10% extra to build up a full month’s credit.
Explanation:
When you pay 10% extra on your $35.00 monthly bill, you’re effectively paying $38.50 each month ($35.00 regular charge + $3.50 extra). The $3.50 is applied toward building a credit balance. Since the goal is to reach $35.00 (the equivalent of one month’s bill), you can calculate how many months are needed by dividing $35.00 by $3.50, which gives 10 months.
During these 10 months, the extra payments accumulate in a “credit account,” separate from your monthly bill. After 10 months, this credit equals your monthly bill of $35.00, meaning you could skip one payment or have a “free” month of service.
Key Points:
- Paying 10% extra adds a consistent $3.50 to your credit each month.
- The full credit of $35.00 will be achieved after exactly 10 months.
- This approach allows you to manage your finances better and prepare for a month where you may need to skip payment due to unforeseen circumstances.
By planning ahead with incremental payments, you essentially create a financial cushion, avoiding the burden of paying the full bill unexpectedly in one lump sum.