the table shows a schedule of mr. kirovs plan for paying off his credit - card balance. if mr. kirov…

the table shows a schedule of mr. kirovs plan for paying off his credit - card balance. if mr. kirov continues to make monthly payments of $100 and does not make any new purchases, how many more payments will he need to make before the balance is 0?\n4 payments\n5 payments\n6 payments\n7 payments\nbalance: $800.00, $708.40, $615.70\npayment: $100, $100, $100\nnew balance: $700.00, $608.40, $515.70\nrate: 0.012, 0.012, 0.012\ninterest: $8.40, $7.30, $6.19

the table shows a schedule of mr. kirovs plan for paying off his credit - card balance. if mr. kirov continues to make monthly payments of $100 and does not make any new purchases, how many more payments will he need to make before the balance is 0?\n4 payments\n5 payments\n6 payments\n7 payments\nbalance: $800.00, $708.40, $615.70\npayment: $100, $100, $100\nnew balance: $700.00, $608.40, $515.70\nrate: 0.012, 0.012, 0.012\ninterest: $8.40, $7.30, $6.19

Answer

Explanation:

Step1: Identify initial balance

The initial balance is $800.00.

Step2: Calculate balance after each payment

Each payment is $100. First payment: $800 - 100=700$. Second payment: $700 - 100 = 600$. Third payment: $600 - 100=500$. Fourth payment: $500 - 100 = 400$. Fifth payment: $400 - 100=300$. Sixth payment: $300 - 100 = 200$. Seventh payment: $200 - 100=100$. Eighth payment: $100 - 100 = 0$.

Answer:

8 payments