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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.

Respuesta :

Given that the annual interest rate of Jacki's credit card is 17%,
it means 17% = 17/100 = 0.17
The exponential expression that reveals the monthly interest rate of Jacki's credit card is:
2,250(1 + 0.17/12)¹²t
2,250(1+0.014)¹²t
=2,250(1.014)¹²t
nolancarmenm

Answer:

2,250(1.014)¹²t

Step-by-step explanation:

Given that the annual interest rate of Jacki's credit card is 17%,

it means 17% = 17/100 = 0.17

The exponential expression that reveals the monthly interest rate of Jacki's credit card is:

2,250(1 + 0.17/12)¹²t

2,250(1+0.014)¹²t

=2,250(1.014)¹²t

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