A credit card company estimates that the average cardholder owed $7,853 in the year 2005 and $9,127

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A credit card company estimates that the average cardholder owed $7,853 in the year 2005 and $9,127 in 2010. Suppose average cardholder debt D grows at a constant rate.

a. Express D as a linear function of time t, where t is the number of years after 2005. Draw the graph.

b. Use the function in part (a) to predict the average cardholder debt in the year 2015.

c. Approximately when will the average cardholder debt be double the amount in the year 2005?

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Calculus For Business, Economics And The Social And Life Sciences

ISBN: 9780073532387

11th Brief Edition

Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price

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Question Posted: May 22, 2023 05:56 AM

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A credit card company estimates that the average cardholder owed $7,853 in the year 2005 and $9,127

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a Since t 0 in the year 2005 t 5 is the year 2010 The given information translates to the po...View the full answer

Calculus For Business, Economics And The Social And Life Sciences

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