Question

You have a saving account the offers an annual simple interest rate of 5%. You put $350 into the account. Select the graph showing the the total interest you earn after 1, 2, 3, and 4 years.

1. Graph one
2. Graph two
3. Graph three
4. Graph four

Answer 1

Here are the graph.

Answer 2

@SolomonZelman and @Mr.Dimples

Answer 3

@aprilann143

Answer 4

Do you know the formula to compute simple interest?

Answer 5

Nope.

Answer 6

@whpalmer4

Answer 7

Does it ever occur to you to read the notes or text or watch the video again? It's very unlikely you're expected to magically know the formula without any instructional background.

However, to save time, I'll just tell you the formula.

\[I = Prt\] where \(I\) is the simple interest earned, \(P\) is the principal balance, \(r\) is the interest rate, expressed as a decimal, and \(t\) is the number of periods (years, in this case).

After 1 year, you will earn $300*0.05*1 = <you fill in the number>

Answer 8

150 @whpalmer4 sorry I had to help my mom.

Answer 9

@whpalmer4

Answer 10

What does the term "5%" mean to you?

Answer 11

If I said I would give you 5% of $300, how much would you be expecting to receive?

Answer 12

5% of 300

Answer 13

And how much is that?

Answer 14

Hint, you must be very popular at restaurants if you tip 15% and you think 5% of $300 is $150 :-)

Answer 15

Yeah

Answer 16

So I believe it;s chat B.

Answer 17

graph*

Answer 18

@whpalmer4

Answer 19

B is correct. Not sure how you got it if you can't calculate percentages correctly, but...

After one year:
\[I = 350*0.05*1 = 17.5\]
After two years:
\[I = 350*0.05*2 = 35\]
After three years:
\[I = 350*0.05*3 = 52.5\]
After four years:
\[I = 350*0.05*4 = 70\]

B is the graph that shows the points (1,17.5), (2,35), (3,52.5), (4,70)