Question

The outstanding balance on a particular charge card is totaled $156 billion in 1966 and $390 billion in 2002. Estimate the debt in 1999. The debt in 1999 is estimated to be ?? $_____ billion

Answer 1

Answer: The debt in 1999 is estimated to be 370.5 billions.

Explanation:

Since we have given that

Amount the outstanding balance on a particular charge card in 1966 = $156

Amount the outstanding balance on a particular charge card in 2002 = $390

Let the number of year be x

and let the amount of outstanding balance be y

As we know the formula for "Slope ":

Here is the coordinates :(1966,156) and (2002,390)

`m=(y_2-y_1)/(x_2-x_1)\\\\m=(390-156)/(20002-1966)\\\\m=(234)/(36)\\\\m=6.5`

now, we know the formula for "Equation of line":

`y-y_1=m(x-x_1)\\\\y-156=6.5(x-1966)\\\\Here,x=1999\\\\y-156=6.5(1999-1966)\\\\y-156=6.5(33)\\\\y-156=214.5\\\\y=214.5+156\\\\y=370.5\ billions`

Hence, the debt in 1999 is estimated to be 370.5 billions.