Question

Credit Card Debt - Application The function D(t) can be used to approximate the total average credit card debt in a U.S. household (in thousands of dollars) t years after 1995. Interpret the meaning of the statement: D(23) = 21.5. In the year , the total average credit card debt for a U.S. household will be $___________.

Answer 1

Answer: 2018; $21,500

Step-by-step explanation:

The 't' in D(t) represents how many years after 1995 the function is referring to. This question has the 't' at 23 so this is 23 years after 1995.

= 1995 + 23

= 2018

The average household debt is given in thousands of dollars therefore;

= 21.5 * 1,000

= $21,500

In the year 2018, the total average credit card debt for a U.S. household will be $21,500.