A credit card has a nominal annual interest rate of 18%, and interest is compounded monthly. The cardholder uses the card to mak
e a $30 purchase.
Which expression represents the balance on the card after 5 years, in dollars, assuming no further charges or payments are made?
Which expression represents the balance on the card after 5 years, in dollars, assuming no further charges or payments are made?
1 answer:
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