Pt = Po + r*t*Po.
b. Pt = 900 + 0.015*12*900,
= 900 + 162 = 1062.
Pt = 900 + 0.015*24*900,
= 900 + 324 = 1224.
c. Pt = 900 + 0.015*t*900 = 2*1224,
900 + 13.5t = 2448,
13.5t = 2448 - 900,
13.5t = 1548,
t = 1548 / 13.5 = 115 months.
Anne now has a balance of $900 on her credit card, on which 1.5% interest per month is charged. Assume that she makes no further purchases or payments (and that the credit card company doesn't turn her account over to a bill collector).
(a) Find the rule of the function g that gives Anne's total credit card debt after x months.
g(x) =
b)How much will Anne owe after one year? (Round your answer to the nearest cent.)
How much will Anne owe after two years? (Round your answer to the nearest cent.)
(c) When will she owe twice the amount she owes now? (Round your answer to nearest month.)
After months
1 answer