66.0k views
3 votes
many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance. miriam owes $650 on a credit card. if she makes no purchases or payments, she will go more and more into debt. which of the following sequences describes her increasing monthly balance? a. 650.00, 650.18, 650.36, 650.54, 650.72, ... b. 650.00, 661.70, 673.40, 685.10, 696.80, ... c. 650.00, 767.00, 905.06, 1,067.97, 1,260.21, ... d. 650.00, 661.70, 673.61, 685.74, 698.08, ... e. 650.00, 767.00, 884.00, 1,001.00, 1,118.00, ...

2 Answers

3 votes

Answer:

The correct answer would be d. 650.00, 661.70, 673.61, 685.74, 698.08

User Andrew De Andrade
by
6.8k points
5 votes
650, 650(1.018), 650 (1.018)^2, 650(1.018)^3, ...

650, 661.7, 673.61, 685.74,698.08, ...

Answer: option d. 650.00, 661.70, 673.61, 685.74, 698.08, ...
User XanderLynn
by
7.2k points