Question

Use the graph showing Peter’s account balance to answer the question that follows.

Answer 1

What is the interest rate on Peter’s account?

13.8%

11.2%

2.9%

12.7%

Answer 2

find the slope,
it gives u "amount of interest money" u get per year

Answer 3

familiar wid slope formula ?

Answer 4

i found that its 7.25 every year

Answer 5

Yes ! you wud get $7.25 as interest every year

Answer 6

whats the starting money (principal) ?

Answer 7

notice that y-intercept of line is 250

Answer 8

yes

Answer 9

y-intercept gives u the "starting value"

Answer 10

does that realy make sense ha ?
it does make sense cuz, when t = 0, you wud get y = 250

Answer 11

so, 250 is the starting money

Answer 12

yes, now what do i do

Answer 13

here is the thing :
for $250, you're gettign $7.25 as interest

Answer 14

so, interest rate = \(\large \frac{7.25}{250}\times 100\)

Answer 15

simplify

Answer 16

2.9?

Answer 17

\(\large \color{red}{\checkmark}\)

Answer 18

Take this medal as a token of my appreciation :)

Answer 19

:)