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05-10-2022
Mathematics

Answered

The balance owed on your credit card doubles from $600 to $1200 in 6 months. If the balance is growing linearly then it would
take 54 months to reach $6000. If, on the other hand, the balance is growing exponentially. f(x) = 600(1 + 0.122)* where x
represents the number of months, what would the balance be after 54 months? Round your answer to the nearest cent.

Answer :

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