A satellite television company charges a one-time installation fee and a monthly service charge. the total is cost modeled by the function y=40+90x. Which statement represents the meaning of each part of the function?

Equation:
t = (1/r)(A/P - 1)

Calculation:
First, converting R percent to r a decimal
r = R/100 = 11.5%/100 = 0.115 per year,
then, solving our equation

t = (1/0.115)((10985/6500) - 1) = 6
t = 6 years

The time required to get
a total amount, principal plus interest, of $ 10,985.00
from simple interest on a principal of $ 6,500.00
at an interest rate of 11.5% per year
is 6 years.

14.65+P = P(1+0.025x2)

Solve for P

P = $293