Math Word Problem:?

Question

Anne now has a balance of $800 on her credit card, on which 1.5% interest per month is charged. Assume that she makes no further purchases or payments (and that the card company doesn't turn her account over to a bill collector):


a.) Find rule function g that gives Anne's total credit card debt after x months.

b.) How much will Anne owe after one year? After two years?

Answer 1

a) g(x)=800*(1.015)^x

b) g(24)=800*(1.015)^24=1143.60