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

Answer:

$Rate = \ 0.05$

Step-by-step 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:

$Rate = \ 0.05$