Question

Suppose you receive $50 for a graduation present, and you deposit it in a savings account. Then each week after, you add $5 to the account, but no interest is earned. The amount in the account is a function of the number of weeks that have passed. Identify the variables in this situation:

x = Number of weeks
y = Total money saved
What is the given information in this problem?
Write the equation of the line:
Slope:
Y-intercept:
a) Given information: $50 initial deposit, $5 added each week, Slope: 5, Y-intercept: 50
b) Given information: $5 initial deposit, $50 added each week, Slope: 50, Y-intercept: 5
c) Given information: $50 initial deposit, $5 added each week, Slope: 50, Y-intercept: 5
d) Given information: $5 initial deposit, $50 added each week, Slope: 5, Y-intercept: 50

Answer 1

The savings account problem describes a linear function with a $50 initial deposit and $5 added each week, resulting in a slope of 5 and a y-intercept of 50. The equation is y = 5x + 50.

Step-by-step explanation:

The student is describing a linear function where the amount of money in a savings account increases by a fixed amount each week. The initial deposit is the y-intercept, which is the value of the savings when no time has passed, or when x is 0. The weekly addition of $5 represents the slope of the line, which is how much the savings increase with each additional week (x).

The given information in the scenario is that there is a $50 initial deposit and $5 added each week. Therefore, the slope of the equation is 5, and the y-intercept is 50. The equation of the line representing the savings as a function of time can be written as y = 5x + 50.