Many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance. miriam owes $750 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?

The answer is E.

First you need to find the rate. You must divide 1.8 by 100

1.8/100 = .018

Then add 1.

.018 + 1 = 1.018

Then times the starting amount with 1.018. The starting amount 750

750(1.018) = 763.5.
As you can see, in option E that is the 2nd number.

Now we must find the next number.

You will do 750(1.018)^x

x represents the time.

763.5 was the first month.

750(1.018)^2 is the 2nd month.

750(1.018)^2 = 777.244 which is the 3rd number in option E

I’m confused this is what i’m doing in class but the question is confusing