Question

Annie is considering opening a certificate of deposit (CD) account. The CD account will earn interest. However, it does not allow her to deposit or withdraw money for 2 years.
First Bank is offering a CD account with a 1.8% interest rate each month. The interest is compounded. In other words, the interest earned each month will be based on the total account balance from the previous month. Annie has $500 to start the account.

Answer 1

a) Fill in the table showing the amount of money in the CD account over 4 months. Banks always round down to the nearest cent when necessary. (For this step you can just type the numbers that would go in each of the four empty spaces.)
(b) If Annie graphed the function, what would the y-intercept be? How do you know this?

(c) Is the relation a function? Explain why or why not.

(d) Is the relation linear? If so, state the rate of change and write the equation of the relation, where x is the number of months and y is the amount in the account. If not, explain why not.

Answer 2

@Kainui

Answer 3

@mathmale

Answer 4

yo

Answer 5

pls help me

Answer 6

@Kainui

Answer 7

@Michele_Laino @mathmale

Answer 8

@freckles

Answer 9

@Compassionate

Answer 10

@rebeccaxhawaii

Answer 11

do you have the formula?

Answer 12

there is no formula

Answer 13

@rebeccaxhawaii

Answer 14

@rebeccaxhawaii