Part A Question
Identify the values of P, r, and n in the expression p(1+r/n)^nt based on Emma’s situation. Then substitute those values into the formula to write a simplified exponential expression in terms of time.

Replace the variables a, b, and c to write the expression.

Part B
Question
Since the card has $0 minimum payments for the first 4 years it is active, Emma wonders how much it will cost her if she doesn't pay off the $300 balance until after college. How much will she owe in 4 years?

Type the correct response in the box. Use numerals instead of words. Round your answer to the nearest dollar.

In 4 years, Emma will owe about $ ???

Part C
Question
Emma also wonders how long it will take her balance of $300 to reach $450, assuming she doesn’t make any payments toward it. Write the equation to represent the situation, and solve it using the inverse relationship between exponential and logarithmic expressions.

Type the correct response in the box. Use numerals instead of words. Round your answer to the nearest tenth.

It will take about ?
years for Emma’s balance to reach $450.

Part D
Question
Emma notices that since her credit card balance compounds monthly, she is charged more than 15% of her initial loan amount in interest each year. She wants to know how much she would pay if the card were compounded annually at a rate of 15%. Which expression could Emma use to evaluate her balance with an annual compounding interest rate?
OPTIONS
A- 300(1.015)^12t
B- 300(1.15)^t
C- 300(1.0125)^t
D- 300(1.15)^12t

Part E
Question
How would the situation change if the interest on Emma’s credit card were compounded annually rather than monthly, and she didn’t make any payments toward the balance?

Select the correct answer from each drop-down menu.

After 4 years, Emma would owe approximately $ (435, 545, 525, 480) for her original purchase of $300.

It would take around (2.5, 2.7, 2.9, 3.1) years for her balance to increase from $300 to $450.