Sheila has a balance of $1190 on her credit card, which she plans to pay off by making a payment of the same amount each month. which of these monthly amounts will allow sheila to pay off her balance the fastest? a. $25 b. $20 c. $30 d. $35

Given:

Sheila has a balance of $1190 on her credit card, which she plans to pay off by making a payment of the same amount each month.

To Find:

Which of the monthly amounts given from the four options will allow Sheila to pay off her balance in the quickest amount of time.

The quickest time to pay off her credit card balance is 34 months by paying an amount of $35 every month.

Step-by-step explanation:

By inspection, out of the four options we can see clearly that the greater the monthly payment amount, the quicker the balance amount can be paid off.

The largest monthly amount is $35 and therefore this is the amount that will allow Sheila to pay off her balance the fastest.

Still, let us calculate and see how many months it will take to pay off the entire sum with each of the monthly installments.

Case 1

At a monthly installment of $25, Sheila will be able to pay off the $1190 credit card balance in 1190 ÷ 25 = 47.6 ≈ 48 months (approx).

Case 2

At a monthly installment of $20, Sheila will be able to pay off the $1190 credit card balance in 1190 ÷ 20 = 59.5 ≈ 60 months (approx).

Case 3

At a monthly installment of $30, Sheila will be able to pay off the $1190 credit card balance in 1190 ÷ 30 = 39.6 ≈ 40 months (approx).

Case 4

At a monthly installment of $35, Sheila will be able to pay off the $1190 credit card balance in 1190 ÷ 35 = 34 months.

Thus even by calculation, we can see that the quickest time to pay off her credit card balance is 34 months by paying an amount of $35 every month.

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