Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Solution Growing linearly, the balance owed on your credit card triples from $700 to $2100 in 9 months. If th ment of $4 balance were

image text in transcribed
Solution Growing linearly, the balance owed on your credit card triples from $700 to $2100 in 9 months. If th ment of $4 balance were growing according to the exponential function f(x) = 700(1 + 0.13)* where x repres number of months, what would the balance be after 9 months? Round your answer to the nearest ce In order to solve this problem, we assume the balance is growing according to the exponential functi f(x) = 700(1 + 0.13)*, where the variable x represents the total number of months. Here we are own payn interested in knowing what the balance would be after 9 months, so substitute 9 for x. months. f(x) = 700(1.13) * - 791 hit) f (9) = 700(1.13) 791 X 9= 7119 ~ 2102.83 So the balance after 9 months would be $2102.83. Notice that your answer is close to $2100. This n expres that over a short period of time, exponential growth can yield approximately the same results as line growth. However, unlike linear growth, exponential growth is not constant because each month's gr proportional to the previous month's growth

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

WebAssign For Trigonometry

Authors: James Stewart

2nd Edition

1337772313, 9781337772310

More Books

Students also viewed these Mathematics questions

Question

3. It is the commitment you show that is the deciding factor.

Answered: 1 week ago