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Growing linearly, the balance owed on your credit card triples from $\$ 600$ to $\$ 1800$ in 12 months. If the balance were growing according to the exponential function $f(x)=600(1+0.096)^{x}$ where $x$ represents the number of months, what would the balance be after 12 months? Round your answer to the nearest cent
Answer
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Answer
\(\boxed{1802.51}\) is the balance after 12 months.
Step 1 ：Substitute $x$ with 12 in the given function $f(x)=600(1+0.096)^{x}$ to calculate the balance after 12 months.
Step 2 ：The balance after 12 months is $1802.5109022143592$
Step 3 ：Round the balance to the nearest cent to get $1802.51$
Step 4 ：\(\boxed{1802.51}\) is the balance after 12 months.
