Question

Can I get some help on this question please Find the simple interest function

Answer 1

Given:

Investment = $400

simple interest rate = 16%

The simple interest formula is given as:

`\begin{gathered} A\text{ = P\lparen1 + rt\rparen} \\ Where\text{ A is the future value} \\ P\text{ is the principal} \\ \text{ r is the rate of interest} \\ and\text{ t is the time in years} \end{gathered}`

Substituting the given values:

`\begin{gathered} A\text{ = 400\lparen1 + 0.16}* t) \\ =\text{ 400\lparen1 + 0.16t\rparen} \end{gathered}`

Hence, the function is:

`A\text{ = 400\lparen1 + 0.16t\rparen}`

The sketch of the function is shown below: