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The annual interest rate on a $10,000 loan is 18%. The exponential function that represents this is y = 10000(1.18t). Write the exponential function for this loan in terms of a monthly interest rate.
A) y = 10000(1.014)t
B) y = 10000(1.014)12t
C) y = 10000(1.098)t
D) y = 10000(1.098)12t

Respuesta :

Answer:

[tex]y=10000(1.015)^{12t}[/tex]

option-B......Answer

Step-by-step explanation:

We are given

amount taken for loan =$10000

so, P=10000

annual interest rate =18%

r=0.18

now, we can use formula

[tex]y=P(1+\frac{r}{n} )^{nt}[/tex]

Since, it is compounded monthly

so, n=12

we can plug values

[tex]y=10000(1+\frac{0.18}{12} )^{12t}[/tex]

[tex]y=10000(1.015)^{12t}[/tex]

Answer:

it B i just took the test


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