The following graph shows the average American household debt h as a function of the date d. Here h(d)  epresents household debt as a percentage of disposable income.   (a) Explain the meaning of  h(1975)  in practical terms.   h(1975) is the average American household debt as a percentage of disposable income in 1975. h(1975) is the average American household debt in dollars in 1975.     h(1975) represents the year in which household debt was at its maximum value.h(1975) is the average American household debt, as a decimal, in 1975. h(1975) represents the year in which household debt was at its minimum value. Use the graph to find its value.  % (b) The graph reaches a maximum value. Estimate the maximum value.  % Estimate the year in which the maximum value occurred.

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 5E
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The following graph shows the average American household debt h as a function of the date d.
Here h(d)  epresents household debt as a percentage of disposable income.
 
(a) Explain the meaning of  h(1975)  in practical terms.
 
h(1975) is the average American household debt as a percentage of disposable income in 1975.
h(1975) is the average American household debt in dollars in 1975.   
 h(1975) represents the year in which household debt was at its maximum value.h(1975) is the average American household debt, as a decimal, in 1975.
h(1975) represents the year in which household debt was at its minimum value.
Use the graph to find its value.
 %
(b)
The graph reaches a maximum value. Estimate the maximum value.
 %
Estimate the year in which the maximum value occurred.
 
140
120
100
80
47%
60
40
20
1955
1965
1975
1985
1995
S00
Household debt
Transcribed Image Text:140 120 100 80 47% 60 40 20 1955 1965 1975 1985 1995 S00 Household debt
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