A. college loan. To help with the cost of tuition, room , and board, you take ou

Question

A. college loan. To help with the cost of tuition, room , and board, you take out a loan of $20,000 for college. You do not have to make any payments on the loan until you leave school. However, the loan amount accumulates interest at the rate of 12% annually. To determine how much you will owe after x years of school, complete a graph.




* What is the domain and range of the problem situation?

What function rule can be used to find the amount you will owe in student loans after staying in school for x years?   M(x) =

Explanation / Answer

If what you are talking about is simple instrest these are the figures for the loan amount. The domain is: {0, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12} The range is the dollar amounts given in the same fashion. A function to represent that is M(x)=247.31x2 + 1207.8x + 18976 This function was found by doing a polynomial regression. Year Dollars 0 20000.00 1 22400.00 2 25088.00 3 28098.56 4 31470.39 5 35246.83 6 39476.45 7 44213.63 8 49519.26 9 55461.58 10 62116.96 11 69571.00 12 77919.52

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