For a certain credit card, the total amount, A ,that a customer owes is given by the following formula. In the formula, P is the starting balance and n is the number of months of debt, assuming interest is compounded monthly. Suppose you begin with a credit card debt of $1000. After one year, you will owe $ _______. (Round your answer to the nearest cent and enter only the number.) A=P(1.015)n
the formula would be 1000(1.015)12 P is the starting balance and N is the number of months in debt. P=1000 N=12 months 1000(1.015)12=12,180 Hope this helps:)
