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 n0123Balance B502.00471.88443.57416.96(a) Find an exponential model for the data. (Round the values to two decimal places.)B = 401.96 ✕ 1.24nB = 600.00 ✕ 0.78nB = 458.60 ✕ 0.85nB = 416.96 ✕ 1.06nB = 502.00 ✕ 0.94n(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.)$

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 ✕ 1.24n
B = 600.00 ✕ 0.78n
B = 458.60 ✕ 0.85n
B = 416.96 ✕ 1.06n
B = 502.00 ✕ 0.94n

(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.)
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Expert Answer

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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Algebra