You just obtained a credit card. you immediately purchase a digital camera for $160. your credit limit is $4000. let’s assume that you make no payments and purchase nothing more and there are no other fees. the monthly interest rate is 1.42%. what is the growth factor of your credit card balance? a. 0.0142 c. 14.2 b. 1.0142 d. 1.42

The correct option is b.

Step-by-step explanation:

An exponential function is defined as

Where, a₀ is initial amount of credit purchase, r is interest rate in decimal and t is time in month. Here (1+r) is known as growth factor.

Initial amount of credit purchase is $160.

The growth factor is 1.0142. Therefore the correct option is b.

the y will be in still but your answer will be y x 3

step-by-step explanation:

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