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: 416+5960. Use this expression to predict what the total average credit card debt was or will be in the year 2002. In the year 2002, the total average credit card debt for a U.S. household will be (or was)

a) $27,556
b) $23,916
c) $24,864
d) $26,240

Answer 1

To predict the 2002 average credit card debt using the expression 416 + 596t, replace t with 7, making the debt $4,588. The options given do not match this result, indicating a possible typo in the expression.

Step-by-step explanation:

To predict the total average credit card debt in a U.S. household for the year 2002 using the given expression 416 + 596t, we first need to determine t, the number of years after 1995. Since 2002 is 7 years after 1995, we substitute t with 7: 416 + 596×7 = 416 + 4172 = 4588. Therefore, the total average credit card debt for a U.S. household in the year 2002 was $4,588.

However, it seems there might be a typo in the expression provided, as the options given (a through d) contain significantly larger numbers that are not possible outcomes of the provided expression when t equals 7. Please verify the expression to ensure it is correct.To predict the total average credit card debt in the year 2002, we can substitute t = 2002 - 1995 = 7 into the given expression.416 + 5960 = 6376Therefore, the total average credit card debt in the year 2002 is approximately $6,376.