Many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance. miriam owes $550 on a credit card. if she makes no purchases or payments, she will go more and more into debt. which of the following sequences describes her increasing monthly balance?

Option A is correct.

Step-by-step explanation:

Miriam owes $550 on a credit card.

Many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance.

So, we can show the working by increasing rate to powers each month.

Like :

550 for first month.

Now progression can be shown with

for second month = 559.90

for next month = 569.98

for next month = 580.24

for next month = 590.68

So, the sequence becomes :

550.00 , 559.90 , 569.98 , 580.24 , 590.68 .....

Therefore, option A is correct.

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chiken

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