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.)
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.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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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.)
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc72d4a94-8d3f-4150-9953-e988f3c509e8%2Fe79ad22b-b6b4-40eb-b877-cb948530ed84%2Fikpuv0h_processed.png&w=3840&q=75)
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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