Sketch a graph that has the following characteristics. (8 points: 2 points for each characteristic)
2 answers:
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Answer:
In the account that paid 6% Susan invest
In the account that paid 5% Susan invest
Step-by-step explanation:
we know that
The simple interest formula is equal to
where
I is the Final Interest Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
Part a) account that paid 6% simple interest per year
in this problem we have
substitute in the formula above
Part b) account that paid 5% simple interest per year
in this problem we have
substitute in the formula above
we know that
substitute and solve for x
therefore
In the account that paid 6% Susan invest
In the account that paid 5% Susan invest