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 Balance B 0 1 496.00 466.24 3 411.97 2 438.27 (a) Find an exponential model for the data. (Round the values to two decimal places.)

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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.

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.
0
1
2
3
Payments n
Balance B
496.00 466.24 438.27 411.97
(a) Find an exponential model for the data. (Round the values to two decimal places.)
OB = 396.97 x 1.24"
OB = 496.00 x 0.94"
B =
OB =
O B =
411.97 x
1.06
453.12 x 0.85"
600.00 x 0.78"
(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.)
$
Transcribed Image Text: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. 0 1 2 3 Payments n Balance B 496.00 466.24 438.27 411.97 (a) Find an exponential model for the data. (Round the values to two decimal places.) OB = 396.97 x 1.24" OB = 496.00 x 0.94" B = OB = O B = 411.97 x 1.06 453.12 x 0.85" 600.00 x 0.78" (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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