You have just graduated from college and purchased a car for $8,000. Your credit limit is $12,000, and the monthly interest rate is 14%. Write an exponential equation to determine how much you will owe (represented by y) after x months with no more purchases or payments.
a. y = 12,000 (1.14)ˣ
b. y = 8,000 (1.14)ˣ
c. y = 12,000 (1.86)ˣ
d. y = 8,000 (1.86)ˣ
