You purchased a smartphone using your Visa® credit card. Your Visa has a monthly finance charge of 2.5% beginning the first of t
1 answer:
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Answer: In June 2097
Step-by-step explanation:
According to the model, to find how many years t should take for we must solve the equation
. Substracting 21100 from both sides, this equation is equivalent to
.
Using the quadratic formula, the solutions are and
. The solution
can be neglected as the time t is a nonnegative number, therefore
.
The value of t is approximately 85 and a half years and the initial time of this model is the January 1, 2012. Adding 85 years to the initial time gives the date January 2097, and finally adding the remaining half year (six months) we conclude that the date is June 2097.