A quadratic has a squared term...causing the shape of a parabola, a U shape because both positive and negative x's squared end up being the same number. real world situation a quadratic could be used to track the height of a launched object. An exponential has the variable in the exponent, causing the y to grow or decay increasingly quickly or increasing slowly real world example: banks use interest, over months or years.Each time the interest is applied, it is applied to a new and bigger total
$20,000 is between $15,000 and $49,999, so we'll use the interest rate of 6.5% (see row 3)
r = 6.5% = 6.5/100 = 0.065
We'll use the decimal form of the interest rate as it is most common for financial math problems.
P = 20,000 is the amount deposited
t = 1 year is the amount of time
We will plug those values into the formula
i = P*r*t
to get the following:
i = P*r*t
i = 20000*0.065*1
i = 1300
So Mark earns $1,300 in simple interest each year.