kala owes $1040 on her credit card, which has a credit limit of $1500. she also has a debit card linked to a…

kala owes $1040 on her credit card, which has a credit limit of $1500. she also has a debit card linked to a checking account with an available balance of $440. use this information to answer the questions below. (a) kala is going to purchase an item with her credit card. what is the most she can spend? (b) kala is going to purchase an item with her debit card. what is the most she can spend? (c) suppose an item costs $500. which card can be used for the entire purchase? select all that apply. if neither card can be used, check \neither\. credit card debit card neither

kala owes $1040 on her credit card, which has a credit limit of $1500. she also has a debit card linked to a checking account with an available balance of $440. use this information to answer the questions below. (a) kala is going to purchase an item with her credit card. what is the most she can spend? (b) kala is going to purchase an item with her debit card. what is the most she can spend? (c) suppose an item costs $500. which card can be used for the entire purchase? select all that apply. if neither card can be used, check \neither\. credit card debit card neither

Answer

Explanation:

Step1: Calculate available credit - credit card

The available credit on a credit card is the credit limit minus the amount owed. So, we subtract the amount Kala owes ($1040) from the credit limit ($1500). $1500 - 1040=460$

Step2: Determine available balance - debit card

The available balance on the debit card is given as $440, and this is the maximum amount she can spend with the debit card.

Step3: Compare with $500$

For the credit card, the available amount is $460<500$. For the debit card, the available balance is $440<500$. So neither card can be used for the entire $500$ - purchase.

Answer:

(a) $460 (b) $440 (c) Neither