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?

O 300(1.15)

O 300(1.015)12t

O 300(1.0125)

O 300(1.15)12t

step-by-step explanation:

answer: c, the green line

step-by-step explanation:

there is no black line, eliminate b.

simple interest implies periodic payments, but the red line shows no payments, eliminate d.

simple interest has equal payments. if paid say every day, the graph is about a straight line (actually a stairstep).

the yellow line is not straight, eliminate a.

check: the green line is straight, answer is c.

simple interest with positive interest rate gives a straight line sloping up to the right. green line:

g(t) = $100 + ($200-$100) ÷ (20 years) × (t years)

= $100 + (4%/year) × ($100)(t years)

incidentally, the yellow line curving upward represents continuously compounded interest

y = $100 × 2^(t years / (14 assuming the yellow line hits $200 at 14 years. 2^0 is 1, so y(0) = $100; 2^(14/14) is 2, so y(14) = $200.

faster, im not sure why but i know it is faster