The expression 1·e0.015t models the amount of spending allowance provided by a credit card company in thousands of dollars. What does the 0.015 represent in this context? A. 0.15% interest rate B. 0.015% interest rate C. 15% interest rate D. 1.5% interest rate

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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The expression 1·e0.015t models the amount of spending allowance provided by a credit card company in thousands of dollars.

What does the 0.015 represent in this context?

A. 0.15% interest rate

B. 0.015% interest rate

C. 15% interest rate

D. 1.5% interest rate

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