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.
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.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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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.
Transcribed Image Text: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
Transcribed Image Text: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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