meredith48034 meredith48034

06-02-2020
Mathematics

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Jeanine owes $1,200 on a credit card. The cars charges 16% interest, compounded continuously. Write a formula that describes how much you knew on her card after t years, assuming she makes no payments and does not incur any additional charges.

Jeanine owes 1200 on a credit card The cars charges 16 interest compounded continuously Write a formula that describes how much you knew on her card after t yea class=

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musiclover10045 musiclover10045

07-02-2020

The letter e is used for continuous compound, it is raised by the interest rate times the amount of time.

The formula would be 1200e^0.16t

The answer is C

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