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MariettaO [177]
3 years ago
13

the simple interest I (in dollars) for a savings account is jointly proportional to the product of time (in years) and the princ

ipal P (in dollars). After 11 months the interest on a principal of $3970 is $86. What is the constant of the variation
Mathematics
1 answer:
mylen [45]3 years ago
7 0
Simple interest I is jointly proportional to the product of time in years and the principal, therefore; mathematically;
I α Pt
introducing a constant;
I = kPt; but I = $ 86, P = $ 3970, while t = 11/12 years
Thus; k = I/Pt
            = 86/ 3970(11/12)
            = 0.0236
Therefore, the constant of the variation is ≈ 0.024
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