Answer to Question #180820 in Financial Math for nur

Question

3. Renting a BIXI bike in Montreal costs various prices depending on the time frame. Mr. Delaney is interested in renting a bike for the 3-day Osheaga festival in July. The rate is $5 for a 24-hour period and $1.75 for every 30 additional minutes following that.

 a) Write a linear equation to model the cost, C, of the rental per hour, h.

 b) How much will Mr. Delaney be charged if he has the bike for 27 hours?

Answer 1

a.) Linear equation

$Cost=5+(1.75\times2)h$

$Cost=5+3.5 h$

Where 5 is fixed cost, 3.5 is change in unit cost and h is number of hours variation.

b.) Total charged

Total hours 27.

$Extra hours=27-24=3$

$Cost=5+(3.5 \times3)=15.5$

Cost=$ 15.5