Can someone Explain this whole thing
1 answer:
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Answer:
Step-by-step explanation:
The balance owed after t months can be given by an exponential function in the following format:
In which B(0) is the initial balance owed and r is the growth rate, as a decimal.
You owe $300 on your credit card. For every month that you fail to make a payment, your balance increases by 1%.
This means, respectively, that
So