The equation that we have to build has the following form:
• The fixed cost of the phone is $88, which will be represented by ,b,.
,
• The variable cost per month is $116.43, which will be represented by ,m,.
,
• y ,is the dependent variable that we want to know (, C(t) ,)
,
• x ,is the independent variable, in our case, ,t,.
Replacing the values given in the problem we get:
The cost for 22 months will be:
Answer:
• Equation
• Cost in 22 months: $2660.46