you have graduated from college and purchased a car for 8000. your credit limit is 12,000. assume that you make no payments and purchase nothing more and that there are no other fees. the monthly interest rate 14%. write an exponential equation to determine how much you will owe (represented by y) after x months with no more purchase or payments.
A. y = 12,000(1.14)^x
B. y= 8,000(1.14)^x
C. y= 12,000(1.86)^x
D. y= 8,000 (1.86)^x

Question

you have graduated from college and purchased a car for 8000. your credit limit is 12,000. assume that you make no payments and purchase nothing more and that there are no other fees. the monthly interest rate 14%. write an exponential equation to determine how much you will owe (represented by y) after x months with no more purchase or payments.
A. y = 12,000(1.14)^x
B. y= 8,000(1.14)^x
C. y= 12,000(1.86)^x
D. y= 8,000 (1.86)^x

anonymous · Answer

B. y= 8,000(1.14)^x