Please help thanks if you do
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Answer:
He invest for 2 years.
Step-by-step explanation:
Given : Suppose you have $1,950 in your savings account at the end of a certain period of time. You invested $1,700 at a 6.88% simple annual interest rate.
To find : How long, in years, did you invest your money?
Solution :
Applying simple interest formula,
Where, A is the amount A=$1950
P is the principal P=$1700
r is the interest rate r=6.88%=0.0688
t is the time
Substitute the values in the formula,
Taking log both side,
Applying logarithmic formula,
Approximately, He invest for 2 years.
This is a linear equation in slope-intercept form. We can see that the slope is -1 and the y-intercept is -3 -- the line passes through (0, -3).
To graph this, we can simply plot the point (0, -3) and draw a line with slope negative 1 (this means that for every unit right, we have to move 1 unit down.
I have attached a picture of the graph.
