A credit card company estimates that the average cardholder owed $7,853 in the year 2000 and $9,127 in 2005. Suppose average cardholder debt D grows at a constant rate.
a. Expreess D as a linear function of time t where t is the number of years after 2000.
b. use the function in part a to predict the average age cardholder debt in the year 2010.
Ok, so for part a the answer is y= D(T)= 254.8t + 7,853
...so question is how did they get the 254.8t part from...can someone explain? Thanks
And for part b the answer iss $10,401. How did you get that?
a. Expreess D as a linear function of time t where t is the number of years after 2000.
b. use the function in part a to predict the average age cardholder debt in the year 2010.
Ok, so for part a the answer is y= D(T)= 254.8t + 7,853
...so question is how did they get the 254.8t part from...can someone explain? Thanks
And for part b the answer iss $10,401. How did you get that?
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1) m = (9,127 - 7,863) / 5
m = (1,264) / 5
m = 252.8
y = 252.8x + 7,853
b) y = 252.8(10) + 7,853
y = 2,528 + 7,853
y = 10,401
I hope this information was very helpful.
m = (1,264) / 5
m = 252.8
y = 252.8x + 7,853
b) y = 252.8(10) + 7,853
y = 2,528 + 7,853
y = 10,401
I hope this information was very helpful.
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Increase in debt = 9127-7853 = $1274
Annual increase = 1274/5 = $254.8
a) D(t) = 254.8t + 7,853
b) D(10) = 254.8*10 + 7853 = $10,401
Annual increase = 1274/5 = $254.8
a) D(t) = 254.8t + 7,853
b) D(10) = 254.8*10 + 7853 = $10,401