Question

Ebuka's monthly rent is

$
750
$750dollar sign, 750. If Ebuka pays the rent late, his landlord charges
4
%
4%4, percent interest per week that the payment is late.
Write a function that gives the total cost
R
(
t
)
R(t)R, left parenthesis, t, right parenthesis, in dollars, of Ebuka's rent if he pays it
t
tt weeks late.

Answer 1

750(1.04)^t

Explanation:

Looked it up on khan academy

Answer 2

`R(t)=750\cdot 1.04^t`

Explanation:

Function Modeling

We need to find a function that models the total cost R(t) of Ebuka's rent if he pays it t weeks late.

We know that the normal rate for the rent is $750. Each week she will be charged by an additional 4%. Let's suppose she is 1 week late. The rent will be

`750+4\%\cdot 750=750+4/100\cdot 750=750+30=780`

Assuming the percent interest is computed on the previous value, if Ebuka is 2 weeks late, the payment should be

`810+4/100\cdot 810=842.4`

Since the new value is computed from the previous value, it's an exponential grow, and the rate of change is

`1+4/100=1.04`

Each week t Ebuka is late, the total payment is

`\boxed{R(t)=750\cdot 1.04^t}`