The annual interest rate on a $10,000 loan is 18%. the exponential function that represents this is y = 10000(1.18t). write the exponential function for this loan in terms of a monthly interest rate. a) y = 10000(1.014)t b) y = 10000(1.014)12t c) y = 10000(1.098)t d) y = 10000(1.098)12t

it B i just took the test

option-B......Answer

Step-by-step explanation:

We are given

amount taken for loan =$10000

so, P=10000

annual interest rate =18%

r=0.18

now, we can use formula

Since, it is compounded monthly

so, n=12

we can plug values

i do not know this sorry : (

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