You have a student loan that accrues interest at a 12% APR (annual percentage rate). If the interest is compounded weekly, what is the growth/decay multiplier in the exponential model of how much you owe on your loan? 1300 O 12 O 1.12 1303 1300 1297 1300

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 94E
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You have a student loan that accrues interest at a 12% APR
(annual percentage rate). If the interest is compounded weekly,
what is the growth/decay multiplier in the exponential model of
how much you owe on your loan?
1300
O 12
O 1.12
1303
1300
1297
1300
Transcribed Image Text:You have a student loan that accrues interest at a 12% APR (annual percentage rate). If the interest is compounded weekly, what is the growth/decay multiplier in the exponential model of how much you owe on your loan? 1300 O 12 O 1.12 1303 1300 1297 1300
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