Sven accumulated $10,500 in credit card debt. If the interest rate is 3.45% per year and he does not make any payments for 15 years, how much will he owe on this debt in 15 years by compounding continuously?
Round your answer to the nearest cent.
Do NOT round until you have calculated the final answer.

what is the model?

step-by-step explanation:

step-by-step explanation:

the ratio of red paint to blue paint is always 9/7. that means that, whatever x's value, (4x+12)/(4x-4) has that same ratio. so, set up an equation and cross-multiply to solve for x:

9/7 = (4x+12)/(4x-4)

9(4x-4) = 7(4x+12)

36x - 36 = 28x + 84

8x - 36 = 84

8x = 120

x = 15