The following expression gives an approximate value of the total average credit card debt in a u.s. household (in dollars) t years

Question

The following expression gives an approximate value of the total average credit card debt in a u.s. household (in dollars) t years after 1995. 404t+5190 use this expression to predict what the total average credit card debt was or will be in the year 1998. answer: in the year 1998, the total average credit card debt for a u.s. household will be (or was) dollars.

kimcuc · Answer

The total average credit card debt for  a U.S household will be    $9292.         How much is considered a lot of credit card debt?    If your  total balance  is more than  30%  of the total  credit limit,  you may be in too much  debt .   Some experts consider it best to keep credit utilization between  1%  and  10% , while anything between  11%  and  30%  is typically considered good.     We are given that an expression which gives an approximate value of the total average credit card debt in a U.S. household (in dollars )t years after 1995    We have to find the total average credit card debt will be in the year  2004.   Number of years =2004-1995=9  t=9 years  Substitute the value of t in the given expression  Then ,  total average credit card debt  in a U.S household will be in the year   Debt(t)=418t+5530  Debt(9)=418 * 9+5530=  $9292  in 2004       Hence, in the year 2004, the total average credit card debt for  a U.S household will be  $9292.       Learn more about   credit card debt     brainly.com/question/16984965        #SPJ4

How much is considered a lot of credit card debt?

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If Mrs. Smith borrows $3400 at a rate of 3% per year, how much simple interest will she pay if it takes 8 months to repay the loan

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