A principal amount of $375 is placed in a savings account that earns 8% annual simple interest. Which graph best models the growth of the account balance. OTotal Account Balance (dollars)Total Account Balance (dollars)180016001400120010008006004002000550500450400350300250200150100500(0,375)(1,435)(0, 405)1(15, 1,189.56)(5,560)5(20, 1,747.86)2(10, 809.60)10Years(3,495)(2, 465)153Years20(4,525)45ҳҳ+7 Total Account Balance (dollars)Total Account Balance (dollars)550500450 (1,405)400350 (0,375)3002502001501005001550500450400350 (0,375)300250200150100500(1,383)1(2,435)2(3,465)23Years(3,399)(2,391)3Years(4,495)4(4,407)455x₂x

A principal amount of is placed in a savings account that earns annual simple interest.The aim is…

Answered: A principal amount of $375 is placed in…

A principal amount of $375 is placed in a savings account that earns 8% annual simple interest. Which graph best models the growth of the account balance.

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter8: Sequences And Series

Section8.4: Mathematics Of Finance

Problem 1E: An annuity is a sum of money that is paid in regular equal payments. The __________ of an annuity is...

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Question

A principal amount of $375 is placed in a savings account that earns 8% annual simple interest. Which graph best models the growth of the account balance.

O
Total Account Balance (dollars)
Total Account Balance (dollars)
1800
1600
1400
1200
1000
800
600
400
200
0
550
500
450
400
350
300
250
200
150
100
50
0
(0,375)
(1,435)
(0, 405)
1
(15, 1,189.56)
(5,560)
5
(20, 1,747.86)
2
(10, 809.60)
10
Years
(3,495)
(2, 465)
15
3
Years
20
(4,525)
4
5
ҳ
ҳ
+7

Total Account Balance (dollars)
Total Account Balance (dollars)
550
500
450 (1,405)
400
350 (0,375)
300
250
200
150
100
50
0
1
550
500
450
400
350 (0,375)
300
250
200
150
100
50
0
(1,383)
1
(2,435)
2
(3,465)
2
3
Years
(3,399)
(2,391)
3
Years
(4,495)
4
(4,407)
4
5
5
x₂
x

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