Question

A savings account with simple interest can be modeled by which type of graph?

Answer 1

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, $I=Prt$,

where I = simple interest, P = Principle amount, r = rate of interest and t = amount of time.

Now, while calculating the simple interest, 'time is usually a variable term'.

So, $I=Prt$ implies $I=kt$, where $k=Pr$ is a constant.

Thus, the equation $I=kt$ represents a linear function.

Hence, the simple interest can be modeled by a linear function.

Answer 2

For simple interest,  it could be represented by a straight line

$I=(P.r)*t$