Question

20PTS HELP

When Carolyn was born, her grandparents opened a savings account for her with an initial balance of $5,000. The account earns an annual percentage rate of 1.75%, compounded daily. The table shows the relationship between the savings account balance and the time, in years, since the account was opened, assuming that Carolyn does not make any deposits to or withdrawals from the account during that time. Time (years) 5 10 15 20 25 Account Balance $5,457.20 $5,956.21 $6,500.84 $7,095.28 $7,744.07 Which statement accurately describes this relationship? A. To graph the relationship, the initial balance should be placed on the x-axis, and time should be placed on the y-axis. B. To graph the relationship, time should be placed on the x-axis, and the interest rate should be placed on the y-axis. C. To graph the relationship, time should be placed on the x-axis, and the account balance should be placed on the y-axis. D. To graph the relationship, the account balance should be placed on the x-axis, and time should be placed on the y-axis.

Answer 1

option C is correct, i.e. To graph the relationship, time should be placed on the x-axis, and the account balance should be placed on the y-axis.

Explanation:

`\left[\begin{array}{cc}Time&Balance\\5&\$5,457.20\\10&\$5,956.21\\15&\$6,500.84\\20&\$7,095.28\\25&\$7,744.07\end{array}\right]`

We see that Time is the independent variable, its value is independent of anything. Also, Account Balance is the dependent variable, it's value depends upon the time after initial deposit.

We plot independent variables on x-axis and dependent variables on y-axis, So we must place Time on x-axis and Account Balance on y-axis.

Hence, option C is correct i.e. To graph the relationship, time should be placed on the x-axis, and the account balance should be placed on the y-axis.

Answer 2

Time is most frequently the independent variable. It should go on the x axis. This question is no exception.

The account balance is the dependent variable and should go on the y axis.

You can only pick one of these and a couple are absurd. Time goes on the x axis and the account balance goes on the y. We care nothing about what the interest rate creating the increase.

The answer is C