Jacki plans to pay for the down payment of a new car with her credit card. The annual interest rate for her credit card is 17%. The following expression represents the balance of the credit card, in dollars, after t years. 2,250(1.17)^t
Write an exponential expression in the form (b)c that reveals the monthly interest rate of Jacki's credit card. Round any decimals to the nearest thousandth.

Given that the annual interest rate of Jacki's credit card is 17%, then the exponential expression that reveals the monthly interest rate of Jacki's credit card is given by:

[tex]2,250\left(1+\frac{0.17}{12}\right)^{12t}=2,250(1+0.014)^{12t} \\ \\ =\bold{2,250(1.014)^{12t}}[/tex]

Answer Link

eudora eudora · Answer 2 · 2019-03-14T11:52:37+01:00

Answer:

[tex]A=2250(1.014)^{12t}[/tex] is the exponential expression.

Step-by-step explanation:

The expression which represents the balance of credit card, in dollars, after t years is

[tex]A=2250(1+\frac{0.17}{12})^{12t}[/tex]

Where rate of interest is 17% and amount spent is $2250.

Since 17% interest is the annual interest and we have done the expression in the form of monthly compounding.

So the expression will be

[tex]A=A_{0}[1+.014]^{12t}[/tex]

[tex]A=A_{0}(1.014)^{12t}[/tex]

[tex]A=2250(1.014)^{12t}[/tex]