A credit card company charges a 5% fee per transaction. If someone spends $40, what fee will the credit card company charge?
1 answer:
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Using exponential functions, the ending balances are given as follows:
1. $1,490.07.
2. $1,073.83.
3. $358.04.
<h3>What is an exponential function?</h3>An increasing exponential function is modeled by:
In which:
- A(0) is the initial value.
- r is the growth rate, as a decimal.
Item a:
The parameters are:
A(0) = 939, r = 0.08, t = 6.
Hence the balance is:
Item b:
The parameters are:
A(0) = 823, r = 0.03, t = 9.
Hence the balance is:
Item c:
The parameters are:
A(0) = 269, r = 0.1, t = 3.
Hence the balance is:
More can be learned about exponential functions at brainly.com/question/25537936
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