Anne now has a balance of $1000 on her credit card, on which 1.3% interest per month is charged. Assume that she makes no further purchases or payments (and that the credit card company doesn't turn her account over to a bill collector).
Find the rule of the function g that gives Anne's total credit card debt after x months.
2006-11-08 18:40:03 · 3 answers · asked by puffer fish 5 in Education & Reference ➔ Homework Help
g=1000[1+(1.3/1200)]^x
2006-11-08 18:53:15 · answer #1 · answered by raj 7 · 0⤊ 0⤋
1000 start
after one month 1000(1+.013)
after the next month [1000(1+.013)(1+.013) = 1000(1+.013)^2
after x months 1000(1+.013)^x
2006-11-08 18:49:45 · answer #2 · answered by gp4rts 7 · 0⤊ 0⤋
f(g) = principal * (interest rate^time)
Anne's total credit card debt = $1000 * (1.013^x)
2006-11-08 18:56:16 · answer #3 · answered by acage123 3 · 0⤊ 0⤋