The exponential function describing the balance owed on Francisco's credit card, B, t years after he purchases a TV on that credit card for $850 is B(t) = 850 - (1.1)* According to this equation, what is the interest rate for this credit card? % Use this function (and logarithms) to compute how long it takes (in years) until the balance on Francisco's credit card is $2000. Enter an exact logarithmic expression and a decimal rounded to the nearest thousandth.

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.CT: Chapter Test
Problem 11CT
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The exponential function describing the balance owed on Francisco's credit card, B, t years after
he purchases a TV on that credit card for $850 is
B(t) = 850 - (1.1)*
According to this equation, what is the interest rate for this credit card?
%
Use this function (and logarithms) to compute how long it takes (in years) until the balance on
Francisco's credit card is $2000.
Enter an exact logarithmic expression and a decimal rounded to the nearest thousandth.
Transcribed Image Text:The exponential function describing the balance owed on Francisco's credit card, B, t years after he purchases a TV on that credit card for $850 is B(t) = 850 - (1.1)* According to this equation, what is the interest rate for this credit card? % Use this function (and logarithms) to compute how long it takes (in years) until the balance on Francisco's credit card is $2000. Enter an exact logarithmic expression and a decimal rounded to the nearest thousandth.
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