Question

Veronica deposited $21 in a savings account that earns 2.4% simple interest. Which graph represents this scenario?

Answer 1

Where’s the graph at?

Answer 2

The below graph represents this scenario.

Explanation:

Given,

The deposited amount, P = $ 21,

Annual interest rate, r = 2.4 % = 0.024,

Thus, the simple interest after x years,

`y=P* r* t`

`=21(0.024)(x)`

`=0.0504x`

If x-axis shows the number of years and y axis represents the simple interest after x years,

So, y = 0.0504x is a line passes through the origin which will show the given scenario,

( shown below )

Also, x ≥ 0 ( number of years can not be negative )