A person has a balance of $274.51 on a credit card. The credit card charges 20% annual interest, compounded monthly. The minimum payment is $10 per month. If the person does not make any more purchases using the credit card, and pays only the minimum payment each month, how long will it take before the balance is paid off, to the nearest month?

step-by-step explanation:

let's assume

number of candles set =x

price of of x candles =p(x)

we are given

a candle maker prices one set of scented candles at $10 and sells an average of 200 sets each week

so, we get point as (200,10)

he finds that when he reduces the price by $1, he then sells 50 more candle sets each week

so, we can find slope

now, we can use point slope form of line

now, we can plug values

we can use point

and find b

now, we can plug it back

and we get

now, we can find revenue

we know that

revenue = price*quantity

so, we get

4n=2m

ratio of m to n: 2/4 = 1/2

answer

a. 1/2

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step-by-step explanation:

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