asked 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

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, ...
answered
User XanderLynn
by
8.0k points
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