Tom just received a credit card with an introductory apr of 0% for nine months and a credit limit of $500. the apr for purchases after the introductory period is 19.9%. the penalty apr is 24.9% and the apr for cash advances is 20.4%. tom uses his card at the mall and spends $360. if tom wants to have a balance of $0 before his introductory period expires, what monthly payments should he make?

The monthly payment Tom must make is $40

Step-by-step explanation:

The steps taken in solving the problem is shown below

Tom received a credit card with an APR =0%

The credit limit is = $500

The APT for purchases after the introductory period is = 19.9%

The APR penalty is = 24.9%

APR cash advances = 20.4%

Tom spends $360 with his card at the mall, for which  He wants his balance to be zero  before his introductory period elapses.

For a 9 months period, Tom must divide his spending's  /expenses

Therefore

$360 ÷ 9 months gives  = $40

the slope of the line is 60

one point on the line is (40,10)

step-by-step explanation:

in the equation outside the parenthesis the equation always tells you the slope. in this case it is 60.

in the parenthesis is also says 40 which is x because it is near the x and 10 is y because it is near y.

if you are saying purchasing 3 social media ads and one newspaper ad counts as one purchase then there are:

6 purchases

if you are asking how many of each then:

18 social media ads

6 newspaper ads