Video Module Simulation
Exponential Models
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The $100 Question

What will be the fine imposed on a loan of $10,000 that is 10 days late in being repaid  if the fine is computed exponential at a rate of 2% each day that it is late? clues
 
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$100
$200
$300
$500
$1,000
$2,000
$4,000
$8,000
$16,000
$32,000
$64,000
 $125,000
$250,000 
$500,000 
$1,000,000 
Copyright Pindling@pindling.org 2001























Clues
Ft =F0 (1+r)t
r=0.02, t = 10, F0 = 10,000