Balance Balance Year ($ billions) Year ($ billions) 2011 702 2019 1775 2013 940 2021 2000 2015 1220 2023 2250 2017 1500 (Source: U.S. Office of Management and Budget)
Balance Balance Year ($ billions) Year ($ billions) 2011 702 2019 1775 2013 940 2021 2000 2015 1220 2023 2250 2017 1500 (Source: U.S. Office of Management and Budget)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Student Loans The balance of federal direct student
loans, S(t), in $ billions, for selected years from 2011 and
projected to 2023 can be modeled by S = 130.7t +699.7, with t equal to the number of years after 2011 and S equal to the balance, in billions of dollars.
a. What is the slope of the graph of this function?
b. Interpret the slope in the context of this problem.
Transcribed Image Text:Balance
Balance
Year ($ billions)
Year ($ billions)
2011
702
2019
1775
2013
940
2021
2000
2015
1220
2023
2250
2017
1500
(Source: U.S. Office of Management and Budget)
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