Question: What is correct answer An exponential function is one that grows faster and faster as the exponential variable grows larger. When money is owed, the
What is correct answer
An exponential function is one that grows faster and faster as the exponential variable grows larger. When money is owed, the amount of interest that the borrower must pay out grows dramatically as the length of time the money is owed increases. How does this apply to the effects of owing money? Owing money is not a big deal. The exponential nature of debt means that long term cost to the borrower is usually minimal. O A few extra years of debt can make an enormous difference in a family's long-term finances. The difference in owing money for a few years due to an emergency and always owing money to one credit card or another so that we can own a few more things now is negligible. O The exponential nature of owing money has minimal impact on the outcome of any debt a person may owe. The wise person is always using debt to leverage their finances to live a little betterStep by Step Solution
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