The solution should include:
- Defining the variables
- Writing the linear equation(s) you will use in solving the problem
- Each step required for solving the equation(s)
- State and explain your answer
If the yearly fee for a warehouse club membership is $100 and the reward rate is 2% on club purchases for the year, write the linear equation that models the actual yearly cost of the membership y, in dollars. Variable x should represent the yearly amount of club purchases in dollars.
a) Determine the actual yearly cost of the membership if club purchases for the year are $2,400.
b) How much would a member have to spend in yearly club purchases to reduce the yearly membership cost to $0?