Question

Edgar has a credit card payment that is increasing each month. The records for his bank payment are shown below. What kind of function can be used to best represent this data? A) Linear B) exponential C) quadratic

Answer 1

Notice that:

`\begin{gathered} 250=250\cdot1.1^0 \\ 275=250\cdot1.1^1 \\ 302.5=250\cdot1.1^2 \\ 332.75=250\cdot1.1^3 \end{gathered}`

Therefore the function that best models the behavior is:

`f(x)=250\cdot1.1^x`

Which is an exponential function.