Solve the problem.You have just graduated from college and purchased a car for $9,000. Your credit limit is $16,000.Assume that you make no payments and purchase nothing more and that there are no other fees. The monthly interest rate is 13%. Write an exponential equation to determine how much you will owe (represented by y) after x months with no more purchases or payments.
A. y = 9,000(1.13)x
B. y = 16,000(1.13)x
C. y = 9,000(1.87)x
D. y = 16,000(1.87)x
Answer: A
Mathematics
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A.
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