many credit card companies charge a compound interest of 1.8% per month on a credit card balance. Miriam owes 750 on a credit ca
rd If she makes no more purchases or payments she will go more and more in debt Which of the following sequences describes her increasing monthly balance?
Most credit card companies also apply a late payment penalty if you owe a balance and do not make a payment. Ignoring that fee, Miriam's balance will increase as:
B(n) = 750(1.018)^n
where B(n) is Miriam's balance after n months. The progression will be:
