PLEASE HELP!! MEDAL!!
Many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance. Miriam owes $750 on a credit card. If she make no purchase or payments, she will go more and more into debt. Which of the following sequences best describes her increasing monthly balances??
a.750.00, 763.50, 777.24, 791.23, 805.48
b.750.00, 885.00, 1,044.30, 1,232.27, 1,454.08..
c.750.00, 885.00, 1,044.30, 1,132.27, 1,354.08..
d. 750.00, 763.50, 777.44, 791.83, 806.68,..
e.750.00, 750.18, 750.36, 750.54, 750.72,...

Question

PLEASE HELP!! MEDAL!!
Many credit card companies charge a compound interest rate of 1.8% per month on a  credit card balance. Miriam owes $750 on a credit card. If she make no purchase or payments, she will go more and more into debt. Which of the following sequences best describes her increasing monthly balances??
a.750.00, 763.50, 777.24, 791.23, 805.48
b.750.00, 885.00, 1,044.30, 1,232.27, 1,454.08..
c.750.00, 885.00, 1,044.30, 1,132.27, 1,354.08..
d. 750.00, 763.50, 777.44, 791.83, 806.68,..
e.750.00, 750.18, 750.36, 750.54, 750.72,...

campbell_st · Answer

well to find the balance in the 2nd month is will be 

balance2 = 750 x 1.8/100 

then for the 3rd month,  take the balance and apply the same calculation 

balance2 = balance1 x 1.8/100

just keep repeating the process

clamin · Answer

i got A @campbell_st

campbell_st · Answer

that is the answer I would have chosen... 

2% of 750 is $15     so 1.8% is a little less

750 + 15 = $765

deadly_roses · Answer

i would say A also....