Question

Please I really need help:

Answer 1

Hi there

The answer is
b.) y=8,000(1.14)^x

Good luck!

Answer 2

Answer:

The correct option is B.

Step-by-step explanation:

It is given that price of car is $8000.

Credit limit is $12000.

The monthly interest rate is 14%.

The exponential growth function is defined as

$f(x)=a(1+r)^x$

Where, a is initial value, r is rate of interest per month and x is time in months.

Here the initial amount of loan is $8000 and monthly interest rate is 0.14.

$y=8000(1+0.14)^x$

$y=8000(1.14)^x$

The exponential equation to determine how much you will owe (represented by y) after x months with no more purchases or payments is $y=8000(1.14)^x$

Therefore the correct option is B.