Explanation Given: The following table: Payment n Balance B 0 500.00 1 485.00 2 470.45 3 456.34 Table ( 1 ) Approach: The data in Table ( 1 ) represents an exponential function if the successive ratios are same. The expression for exponential model is, B = Initial value × ( decay factor ) n Here, B is balance in dollars and n is the time period in months. Calculation: Calculate the successive ratios as follows: n -Interval new value old value = successive ratio of B To determine (b) To find: The initial charge. To determine (c) To find: The balance after making payments for 2 years .

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN: 9781337111348

Author: Bruce Crauder, Benny Evans, Alan Noell

Publisher: Cengage Learning

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Chapter 4.CR, Problem 7CR

To determine

(a)

To find:

The exponential model for the given data.

To determine

(b)

To find:

The initial charge.

To determine

(c)

To find:

The balance after making payments for 2 years.

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Chapter 4.CR, Problem 6CR

Chapter 4.CR, Problem 8CR

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Chapter 4 Solutions

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

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(a) To find: The exponential model for the given data.

Solution Summary: The author explains that the data in Table (1) represents an exponential function if the successive ratios are equal.

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(a) To find: The exponential model for the given data.

(b) To find: The initial charge.

(c) To find: The balance after making payments for 2 years.

Want to see the full answer?

Chapter 4 Solutions

(a)

To find:

The exponential model for the given data.

(b)

To find:

The initial charge.

(c)

To find:

The balance after making payments for 2 years.