SOLUTION: Mr.chang has $10,000 in a savings account. He wants to pay of $3500 credit card purchase. HE withdraws $500 each month from his savings account until the balance is paid off. No in

Question 1083379: Mr.chang has $10,000 in a savings account. He wants to pay of $3500 credit card purchase. HE withdraws $500 each month from his savings account until the balance is paid off. No interest will be charged for the first year. What is the domain of this function?
Found 2 solutions by Boreal, MathTherapy:
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
y=10000-500x for the first year x=12 has 4000 left
I don't know the interest in the second year, but it is on 4000 to begin with.
after 8 months, the principal would be paid off. Depending on the interest charged, there would be less than $500 (1 more month) or less than 1000 almost certainly (2 months)
without any interest, the domain is 0<=x<=20
with interest, the domain may be expanded to 21 or even 22.
Answer by MathTherapy(10552) (Show Source): You can put this solution on YOUR website!

Mr.chang has $10,000 in a savings account. He wants to pay of $3500 credit card purchase. HE withdraws $500 each month from his savings account until the balance is paid off. No interest will be charged for the first year. What is the domain of this function?

With x being the number of months, and B being the balance after x months, we get the function: B(x) = - 500x + 10,000
The domain (x) will be from 0 - 20, as he started with 10,000, and with $500 being withdrawn, that $10,000 will be depleted 20 months after.
However, since the balance on the credit card is only $3,500, then in this particular case, the DOMAIN (x) will be from 0 - 7.
RELATED QUESTIONS
Keith has $500 in a savings account at the beginning of the summer. He wants to have at... (answered by Theo)
Bill bought a stereo on his credit card for $500. He plans on paying the minimum payment... (answered by Boreal,MathTherapy)
. James has $3,000 in credit card debt, which charges 14% interest. How long will it take (answered by ikleyn)
Kindu has $500 in his Bank of Guam savings account at the beginning of the school year.... (answered by richwmiller)
Manuel has $600 in a savings account at the beginning of the summer. He wants to have at... (answered by stanbon)
A man has 3600 $in his savings account . he withdraws 2\5of the money in his savings... (answered by jorel1380)
You are in collections with CRA. As of April 30, 2019 you have an outstanding income tax (answered by ikleyn)
Translate to a system of equations and solve. Mark wants to invest $10,000 to pay for... (answered by Boreal)
Bobby has $167 in his savings account. He withdraws $115, deposits $53, and then... (answered by checkley71)