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.

407t + 5370
Use this expression to predict what the total average credit card debt was or will be in the year 2013.
Answer: In the year 2013, the total average credit card debt for a U.S. household will be (or was) __________ dollars.
Hint: The key here is to keep in mind that t is years since 1995, not the actual year

Answer 1

To find the average household credit card debt in 2013, calculate 407 times 18 plus 5370, which equals $12,696.

Step-by-step explanation:

To calculate the total average credit card debt for a U.S. household in the year 2013 using the given expression, we need to determine the value of t, which represents the number of years after 1995. Since 2013 is 18 years after 1995 (2013 - 1995 = 18), we plug t = 18 into the expression to get 407t + 5370.

Now, let's compute: 407 × 18 + 5370 = 7326 + 5370 = 12696.

In the year 2013, the total average credit card debt for a U.S. household was $12,696.