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

Responses

gift card
gift card

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

Answer 1

To determine which payment method can cover the cost of the bicycle priced at $350, let's evaluate the options the student has:

1. Cash: The student has $150 in cash.
2. Gift Card: The student has a $50 gift card.
3. Credit Card: The student has a credit card with a $500 limit.

Now, let's see if any of these methods or combinations can meet the total cost of $350.

• If the student uses cash ($150) and the gift card ($50), the total would be:
  $150 (cash) + $50 (gift card) = $200, which is not enough.

• If the student uses only the credit card, that would cover the entire cost of $350, as the credit card has a limit of $500.

Therefore, the correct response is:

credit card