Answer:
Bank One is offering a simple interest rate of 6.25% per annum.
Step-by-step explanation:
Given that Bank One offers a certificate of deposit that pays $ 5,000 in four years for exchange for $ 4,000 today, to determine what interest rate is Bank One offering the following calculation must be performed:
(5000 - 4000) / 4 = X
1000/4 = X
250 = X
4000 = 100
250 = X
250 x 100/4000 = X
25000/4000 = X
6.25 = X
Therefore, Bank One is offering a simple interest rate of 6.25% per annum.
Answer:
y = 8
General Formulas and Concepts:
<u>Algebra I</u>
- Reading a Cartesian Plane
- Coordinates
- Functions
Step-by-step explanation:
What the question is asking is for the y-value when the x-value is equal. According to the graph, when x = 6, y = 8. Therefore, y = 8.
Average rate = distance / time
distance = average rate x time
Range of distance = 2.2(1) to 2.2(3) = 2.2 to 6.6
Required range is all real numbers from 2.2 to 6.6, inclusive.
