Question

Gerard compares the offers at two different banks to decide where he should open a savings account. A. Draw a representation to show how much would be in the first savings account if Gerard's initial deposit were d dollars.

Answer 1

Explanations:

Given the following parameters

An initial deposit of Gerard is "d" dollars

For the savings with 5% interest, the interest on "d" dollars will be expressed as;

`\begin{gathered} \text{Interest = 5\% of d} \\ \text{Interest = 0.05d} \end{gathered}`

Get the total savings plus interest in the first account

`\begin{gathered} \text{Balance}=\text{Initial deposit + Interest} \\ \text{Balance=d+0.05d} \\ \text{Balance=1.05d} \end{gathered}`

Hence the $1.05d will be in the first savings account if Gerard's initial deposit were d dollars

For the other account:

Initial deposit = "d" dollars

Interest = $100

Since the interest will be added to the first deposit, hence;

`\text{Balance=(d+100)dollars}`

In Tabulated form: