Question

Question 3 (2 points)Hailey deposited $16 in a savings account that earns 1.8% simple interest. Which graph represents this scenario? (2 points)

Answer 1

If Hailey deposited $16 in a savings account that earns 1.8% simple interest, the total saves every month can be calculated as:

Y = $16 + $16*(1.8%)*X

Y = 16 + 0.288X

Where X is the month and Y is the total saving. So, for month 2, 6, and 10, the total saving is going to be:

`\begin{gathered} Y=16+0.288(2)=16.576 \\ Y=16+0.288(6)=17.728 \\ Y=16+0.288(10)=18.88 \end{gathered}`

So, the answer is a graph like: