Suppose you open a bank account. Every month you deposit $40. Write an equation that relates the total number of dollars deposit
1 answer:
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Deposited amount = $14.
Rate of interest = 2.7%
In decimals 2.7 could be written by dividing 2.7 by 100, we get
0.027.
Interest earned each year = 2.7% of $14 = 0.027*14 = $0.378.
We can make a table to balance by after each year.
First year balance: First year interest + Deposited amount = 0.378 +14 = $14.378.
Second year balance: Second year interest + Deposited amount = 2*0.378 +14 = 0.756+ 14 = $14.756.
Third year balance: Third year interest + Deposited amount = 3*0.378 +14 = 1.134+ 14 = $15.134.
We get four coordinates to graph A(0,14), B(1, 14.378) , C(2, 14.756) and D(3, 15.134).
Plotting those coordinates of the points A, B, C and D on the graph.
