On Day 16 (in Segment 5), Ebony deposited $100 into her account. On each day after Day 16 (Segment 6) Ebony made a deposit, and
those deposits were equal to each other.
(a) Explain how you can determine, just by looking at the graph, whether the amounts she deposited after Day 16 were each less than, equal to, or greater than $100.
(b) Use the graph to estimate B(21) in hundreds. Explain how you determined this estimate. Then, show how you can estimate the amount of money Ebony deposited into her account each day after Day 16.
(a) Explain how you can determine, just by looking at the graph, whether the amounts she deposited after Day 16 were each less than, equal to, or greater than $100.
(b) Use the graph to estimate B(21) in hundreds. Explain how you determined this estimate. Then, show how you can estimate the amount of money Ebony deposited into her account each day after Day 16.
1 answer:
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Answer:
$7
Step-by-step explanation:
Hey there
to solve this kind of problem we use the formula:
<h3>First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year,
then, solving our equation
I = 70 × 0.05 × 2 = 7
I = $ 7.00
The simple interest accumulated
on a principal of $ 70.00
at a rate of 5% per year
for 2 years is $ 7.00.
