Question

A library has an initial late fee of $0.50 cents and charges an additional $0.05 per day. What is the rate of change?

Answer 1

`Rate = \$0.05`

Explanation:

Given

`Base\ Amount = \$0.50`

`Additional = \$0.05`

Required

Determine the rate of change.

From the given parameters, we understand that the on a daily basis, there's a charge of $0.05.

This charge represent the rates at which the fee changes on a daily basis.

Hence:

`Rate = \$0.05`