Growing linearly, the balance owed on your credit card doubles from $700 to $1400 in 6 months, If the balance were growing according to the exponential function f(x) = 700(1 +0.122) where x represents the number of months, what would the balance be after 6 months? Round your answer to the nearest cent.

Growing linearly, the balance owed on your credit card doubles from $700 to $1400 in 6 months, If the balance were growing according to the exponential function f(x) = 700(1 +0.122) where x represents the number of months, what would the balance be after 6 months? Round your answer to the nearest cent.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Hi,how to use the excel function (IRR and Effect) to determine which money lender offers a better rate: 1. Ah Long Finance: Loan amount: $20,000; instalment $600 per month x 36 months 2. Sharky Finance: Loan amount: $30,000; instalment $555 per month x 60 months 3. Ah Beng Finance: Loan amount: 40,000; instalment $ 760 per month x 59 months 4. Barracuda Finance: Loan amount: $50,000; instalment $925 per month x 60 monthsThanks.

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