Solve the Problem $f ( x ) = 6.75 \sqrt { x } + 12$

question 236

Multiple Choice

Solve the problem.
-The function $f ( x ) = 6.75 \sqrt { x } + 12$ models the amount, $f ( x )$ , in billions of dollars of new student loans $x$ years after 1993. According to the model, in what year is the amount loaned expected to reach $\$ 45.75$ billion?

• A) 2021
• B) 2022
• C) 2018
• D) 2023

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Definitions:

Depreciating Equipment

The process of allocating the cost of tangible assets over its useful life, reflecting wear and tear, and loss of value over time.

Service Revenue

Income earned by a company for the services it has provided to customers.

Adjusting Entry

Accounting records produced at the conclusion of a financial period to distribute earnings and expenditures to the timeframe in which they were genuinely incurred.

Accrued Expense

An expense that has been incurred but not yet paid, leading to a liability on the balance sheet.