Question

Asked Nov 6, 2019

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You get a new credit card and make an initial charge, but then charge nothing else. The table below shows your balance *B*, in dollars, after you have made *n* monthly payments.

Payments n |
0 | 1 | 2 | 3 |
---|---|---|---|---|

Balance B |
502.00 | 471.88 | 443.57 | 416.96 |

(a) Find an exponential model for the data. (Round the values to two decimal places.)

B = 401.96 ✕ 1.24^{n}

B = 600.00 ✕ 0.78^{n}

B = 458.60 ✕ 0.85B = 416.96 ✕ 1.06^{n}

B = 502.00 ✕ 0.94^{n}

(b) What was your initial charge? (Use the model found in part (a).)

$

(c) What will your balance be after you have made payments for 1 year? (Use the model found in part (a). Round your answer to two decimal places.)

$

Step 1

**a. **According to the given data *B* (0) = 502.00 which satisfies only by the B = 502.00 ✕0.94n

Thus, the correct option is B = 502.00 ✕ 0.94...

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