C. Mom says: Don't forget Insurance! Joe's mom says that he'll have to pay outrageous insurance rates on a Porsche. Joe has been told that insurance rates are dependent upon the driver's age. His driver's training instructor gave Joe the following table to help him out. It shows insurance rates for a male Porsche driver with a perfect driving record based on different ages. Annual Insurance Driver's Age Rate 18 $5 575.30 19 $5 296.54 20 $5 031.71 21 $4 780.12 22 $4 541.12 23 $4 314.06
look at image below and answer:
a) From the table, determine if the data represents a linear, quadratic or exponential relationship. Justify your answer.
b) Joe’s grandfather’s 65 year old friend drives a Porsche. His insurance rate is only $500.35 per year. Does this information fit the model you chose above? Explain.
c) Graph the data (remember to include Joe’s grandfather’s friend’s insurance rate). Determine the equation of best fit.
d) Use your results to determine Joe’s annual insurance rate when he purchases his Porsche, by making an eqaution and then sketching the graph
e) If Joe decides to pay his insurance monthly instead of yearly, what will be his total monthly costs for his car payments and insurance? Should Joe rethink his Porsche dream? Explain your thinking.
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