Question

The following expression gives an approximate value of the total average credit card debt in a U.S. household (in dollars) t t years after 1995. 418 t + 5530 418t+5530 Use this expression to predict what the total average credit card debt was or will be in the year 2004. Answer: In the year 2004, the total average credit card debt for a U.S. household will be (or was)

Answer 1

In the year 2004, using the expression 418t + 5530, the total average credit card debt for a U.S. household was $9292.

Step-by-step explanation:

The student has asked to predict the total average credit card debt for a U.S. household in the year 2004 using the given expression 418t + 5530, where t represents years after 1995. To calculate this, we first need to determine the value of 't' for the year 2004. This is done by subtracting 1995 from 2004, which gives us 't' equal to 9. We then plug this value into the expression:

Total average credit card debt in 2004 = 418 * 9 + 5530

Calculating this, we get:

Total average credit card debt in 2004 = 3762 + 5530

Total average credit card debt in 2004 = $9292

Therefore, in the year 2004, the total average credit card debt for a U.S. household was (or would be) $9292.

Answer 2

2004 is nine years after 1995, t=9.
Using the given formula,
Debt(t)=418t+5530
Debt(9)=418*9+5530=$9292 in 2004