Problem
Question 2 of 6, Step 1 of 1 $1 / 6$ Correct 2 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 How to enter your answer (opens in new window)
Solution
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.
