You owe $300 on your credit card. For every month that you fail to make a payment, your balance increases by 1%. Find a formula for the balance B owed after t months with no payment.

Step-by-step explanation:

The balance owed after t months can be given by an exponential function in the following format:

In which B(0) is the initial balance owed and r is the growth rate, as a decimal.

You owe $300 on your credit card. For every month that you fail to make a payment, your balance increases by 1%.

This means, respectively, that

So

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step-by-step explanation:

you didn't post any answer choices, so its not 100% clear what your teacher is looking for

however, log(15/7) is equivalent to log(15) - log(7)

i'm using the rule log(x/y) = log(x) - log(y)