Answer:
The simple interest can be modeled by a linear function.
Step-by-step explanation:
We know that,
The equation to find the simple interest is,
,
where I = simple interest, P = Principle amount, r = rate of interest and t = amount of time.
<em>Now, while calculating the simple interest, 'time is usually a variable term'.</em>
So,
implies
, where
is a constant.
<em>Thus, the equation
represents a linear function.</em>
Hence, the simple interest can be modeled by a linear function.