Mathematics

27 July, 06:15

You have just graduated from college and purchased a car for $8000. Your credit limit is $20,000. Assume that you make no payments and purchase nothing more and that there are no other fees. The monthly interest rate is 12%. Find the y-intercept for the exponential function which represents how much you will owe (represented by y) after x months with no more purchases or payments.

A. (0, 20000)

B. (8000, 0)

C. (0, 8000)

D. (20000, 0)

+1

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