Mr. Smith wants to buy a new dining room table that costs $1,500. He has $2,000 in cash, a $500 gift card, and a credit card with a $1,000 limit. Identify the payment method that can cover the cost of the new table.(1 point)
The payment method that can cover the cost of the new table is a credit card with a $1,000 limit.
How?
Apologies for the confusion. Mr. Smith can cover the cost of the new table using a combination of his cash, gift card, and credit card.
He has $2,000 in cash, a $500 gift card, and a credit card with a $1,000 limit.
If he uses $1,500 from his cash, he will have $500 remaining in cash.
If he uses his $500 gift card, he will have $0 remaining on the gift card.
Lastly, he can use his credit card with a $1,000 limit to cover the remaining $500 cost of the new table.
Therefore, Mr. Smith can use $1,500 cash, a $500 gift card, and a $500 credit card payment to cover the cost of the new table.