Question

The following expression gives an approximate value of the total average credit card debt in a U.S.household (in dollars) t years after 1995.407t + 5690Use this expression to predict what the total average credit card debt was or will be in the year2000.Answer: In the year 2000, the total average credit card debt for a U.S. household will be (or was)dollars.Hint: The key here is to keep in mind that t is years since 1995, not the actual year

Answer 1

The following expression determines the total average credit card debt:

c = 407t + 5960

due to t is considered from 1995, then, for this year t = 0 and for the year 2000 t = 5.

Replace t = 5 into the expression for c and simplify:

c = 407(5) + 5960

c = 2035 + 5960

c = 7995

Hence, for year 2000, the total average credit card debt is $7995.