Question

whats the interest rate on Philips account

Answer 1

\(\bf interest = principal \times rate(\textit{in decimals}) \times time(\textit{years})\)

notice the graph starts off from the AMOUNT of $450, so that's the original deposit, or \(\bf Principal\)

the \(\bf Interest\ earned\), will be the amount earned between years, so let's look from 0years, to 9years, that is from the beginning

starts off with $450, 9 years later it has $9,583.65
9,583.65 - 450 = 9,133.65

so we can say that \(\bf interest = principal \times rate(\textit{in decimals}) \times time(\textit{years})\\
i = prt\\ \quad \\ \quad \\
9133.65(\textit{earned interest}) = 450 \times rate(\textit{in decimals}) \times 9\textit{years}\\ \quad \\
9133.65 = 450 \times rate \times 9\\ \quad \\ \quad \\
i = prt \implies \cfrac{i}{pt} = r\)

Answer 2

@jdoe0001

Answer 3

so what is the rate?

Answer 4

dunno... what did you get from \(\bf \cfrac{i}{pt} = r\quad ?\)

Answer 5

182

Answer 6

182? well.... it gives a bit more than that

Answer 7

182.673

Answer 8

\(\bf 9133.65 = 450 \times rate \times 9\\ \quad \\ \quad \\
i = prt \implies \cfrac{i}{pt} = r \implies \cfrac{9133.65}{450\times 9} = r\)

Answer 9

2.25?

Answer 10

yes, that's the decimal format for the rate
2.25 * 100 is our rate, so the rate is 225%

225%, pretty high rate of interest, but if you notice the numbers
he started from $450, and it goes up and up really quickly, so yes, he's more than tripling his amount every year

Answer 11

so what is the answer

Answer 12

2.25 * 100 225% is the interest rate

Answer 13

not an optoin

Answer 14

option

Answer 15

3.3
6.7
9
15.3

Answer 16

%

Answer 17

these are the options

Answer 18

hmmmm... I wonder what the blue numbers are then :/

Answer 19

IDK

Answer 20

ohhh shoot, the 1st number is just the x-coordinate

Answer 21

so, he really didn't make $9,583.65
it's just ( 9 , 583.65) => in 9 years, his balance is 583.65

Answer 22

ok.. then let's redo that part with the correct balance amount
Principal is $450
after 9 years, he's got $583.65

difference will be the earned interest, that is 583.65 - 450 = 133.65

Answer 23

I figured it was too high =)

Answer 24

ok

Answer 25

\(\bf 133.65 = 450 \times rate \times 9\\ \quad \\ \quad \\
i = prt \implies \cfrac{i}{pt} = r \implies \cfrac{133.65}{450\times 9} = r\)

Answer 26

the number will be a decimal figure, so, * 100, is the percentage rate

Answer 27

0.033

Answer 28

yeap, 0.033 * 100 = 3.3

so the interest rate is 3.3%

Answer 29

thanks

Answer 30

yw