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Mathematics, 27.11.2020 04:00 Gabby1493
Many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance. Miriam owes $550 on a credit card. If she makes no purchases or payments, she will go more and more into debt.
Which of the following sequences describes her increasing monthly balance?
A. 550.00, 649.00, 765.82, 903.67, 1,066.33, ...
B. 550.00, 559.90, 569.80, 579.70, 589.60, ...
C. 550.00, 559.35, 568.86, 578.53, 588.36, ...
D. 550.00, 559.90, 569.98, 580.24, 590.68, ...
E. 550.00, 550.99, 551.98, 552.98, 553.97, ...
Please also explain how (steps) to get the answer, thank you!
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Answers: 3
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