Reminder Round all answers to two decimal places unless otherwise indicated.
Credit Card Payments You make one charge to a new credit card, but then charge nothing else and make the minimum payment each month. You can't find all of your statements, but the accompanying table shows, for those that you do have, your balance
Payment n |
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Balance B |
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a. Use regression to find an exponential for the data in the table. (Round the decay factor to four decimal places.)
b. What was your initial charge?
c. For such a payment scheme, the decay factor equals
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Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
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