A student wants to purchase a new bicycle that costs $350. They have $150 in cash, a $50 gift card, and a credit card with a $500 limit. Identify the payment method that can cover the cost of the new bike.(1 point)

Question

A student wants to purchase a new bicycle that costs $350. They have $150 in cash, a $50 gift card, and a credit card with a $500 limit. Identify the payment method that can cover the cost of the new bike.(1 point)

Responses

None of the payment methods will cover the cost of the new bicycle.
None of the payment methods will cover the cost of the new bicycle.

credit card
credit card

cash
cash

gift card

Answer 1

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)

Responses

Any of the three payment methods mentioned can cover the cost of the table.
Any of the three payment methods mentioned can cover the cost of the table.

gift card
gift card

cash
cash

credit card

Answer 2

credit card

Answer 3

Ishaan wants to purchase a new TV for his family. The TV costs $999. He currently has $100 in cash, $500 on his debit card, and a credit card with a $300 limit. Identify the payment method that can cover the cost of the new TV.(1 point)

Responses

None of the payment methods is enough to cover the cost of the new TV.
None of the payment methods is enough to cover the cost of the new TV.

debit card
debit card

Any of the payment methods is enough to cover the cost of the new TV.
Any of the payment methods is enough to cover the cost of the new TV.

credit card

Answer 4

None of the payment methods is enough to cover the cost of the new TV.

Answer 5

To have a smoothie with breakfast more regularly, Jordan decides to buy a new blender that cost $59. Jordan can pay with cash, by debit card, or by credit card. Compare and contrast the payment methods Jordan must choose among. Decide which one will help Jordan avoid paying potential fees or interest on the purchase.(1 point)

Responses

debit card
debit card

cash
cash

credit card
credit card

Jordan can use any of the three payment methods without worrying about paying potential fees or interest.

Answer 6

Jordan can use cash or a debit card to avoid paying potential fees or interest on the purchase of the blender. Both cash and debit cards involve using money that is already available, so there would be no need to borrow or incur any additional charges. Using a credit card, however, could potentially result in interest charges if the balance is not paid off in full by the due date. Therefore, the best option for Jordan to avoid potential fees or interest would be to pay with cash or a debit card.