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...

See similar textbooks

Related questions

Q: The population of Glenbrook is 375,000 and is increasing at the rate of 2.25% per year. Predict when…

A: Given:The population of Glenbrook is 375,000 and is increasing at the rate of 2.25% per year.…

Q: investment to triple in value during 21 ye period . what annually compounded rate of return must it…

A: Given query is to find rate of interest.

Q: You buy a new car for the price of $28,750 and, on average, that car’s value will depreciate by…

A: Buy car price of $28,750 depreciate by 18.25% each year. determine the time when your car’s value…

Q: 11. An investor plans to invest $12,000 at 4.9% with continuous compounding. Calculate the number of…

A: Consider the given information.

Q: Ananta deposited Rp10,000,000.00 with compound interest at x% per 6 months. Meanwhile, Asnawi…

Q: Write an equation that models the amount of money in an account that pays 2.5% annual interest,…

A: Write an equation that models the amount of money inan account that pays 2.5% annual interest,…

Q: Gina puts $ 5500 into an account earning 7.75% interest compounded continuously. How long will it…

A: Given problem Given that Gina puts $ 5500 into an account earning 7.75% interest compounded…

Q: Tessa invests $9600 in a new savings account which earns 4.6% annual interest, compounded…

Q: 4. The sales, in millions of pesos, of a certain company are shown in the table below. Year 1 2 4 7…

Q: Section 3.2 (31) During a prolonged recession, property values on Long Island depreciated by 2%…

A: Let cost of house be denoted by ‘x’ at time ‘t’. If ‘A’ be the original price of the house and ‘r’…

Q: Financial analysts forecast Safeco Corp's (SAF) growth rate for the future to be 8 percent. Safeco's…

Q: You invest $750 in bank which pays 8% interest per year compounded continuously. What will be the…

Q: A computer loses 35% of of its value each year. If the computer cost $600 new, calculate its value…

A: A computer loses 35% of of its value each year. If the computer cost $600 new, calculate its value…

Q: Money deposited in a fund triples every 8 years. If the bank compounds the interest continuously,…

Q: A gift card loses 10% of its value every year. At the end of 10 years, what percent of the gift…

A: Given, a gift card loses 10% of its value every year. At the end of 10 years,

Q: A store shows a net profit of $65,250 for the year. If the store profit increases by 3.75% per year…

A: Here we use compound interest formula which is as follows. If P be the principal which increases by…

Q: Greg Tobin wishes to invest a $5000 bonus check into a savings account that pays 6.3% interest. Find…

A: Given data, Principal value P=$5000 Rate of interest r=6% Amount A=$11000

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

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Given the information

VIEW

Step 2: Find the graph of the simple interest

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 9 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

An annuity is a sum of money that is paid in regular equal payments. The __________ of an annuity is the sum of all the individual payments together with all the interest.
how do i calculate annuities
2b) Explain the differences between life insurance and general or non-life insurance.
> Income Credit Size Income model summary (model) Call: 1m (formula Credit Income + Size) Residuals: Min 1Q Median 3Q Max 1270.10 -1172.67 -169.44 15.63 161.81 Coefficients: Estimate Std. Errort value Pr (>1t|) (Intercept) 1257.003 197.279 6.372 7.35e-08 Income 3.929 8.369 7.20e-11*** 34.894 10.895 1.87e-14 *** 32.881 380.176 Size Signif. codes: 0.***** 0.001 *** 0.01 0.05 0.11 Residual standard error: 393.8 on 47 degrees of freedom Multiple R-squared: 0.8293, Adjusted R-squared: 0.822 F-statistic: 114.2 on 2 and 47 DF, p-value: < 2.2e-16 a) From the output, observe that the regression equation as follows: y=1257.003+32.881x Income +380.176x Size b) b) From the output, observe that the adjusted coefficient of determination value is 0.5945 This value indicates that how the model is likely to be useful in predicting the annual credit card changes. The model is most likely to be useful, because this value is high value. c) The null and alternative hypotheses as follows: Null…
Please I need help with these questions!!!
calculate the percent change in the U.S. national debt from March, 2020 to June, 2020 and compare it to the percent change in the U.S. national debt just before, from December, 2019 to March, 2020, and just after, from June, 2020 to September 2020. Write all your work here. in billion US dollars (march2020 23,686.87) (June2020 26,477.24)(Sep2020 26,945.39) (December 2019 23,223.81)
Salary 77600 76000 90700 97200 90700 101800 78700 81300 84200 97600 77500 75700 89400 84300 78700 84600 87700 103400 83800 101300 94700 69200 95400 61500 68800
how much interest was earned in account 1
Formula for return on assets
A. This is the amount of income subject to income tax. It is the total of all incomes, less employer-withheld deductions, other deductible expenses, and deductions. B. This is the total of all incomes, less payments for tax-exempt expenses that have been withheld by the employer. C. This is the sum total of all incomes, without anything taken out. Which one is taxable income, gross income, adjusted gross income ?
OFW REMITTANCES IN BILLION (US Dollar) January to May, 2008 and 2009 1.80 1.60 1.40 1.20 2009 1.00 2008 0.80 0.60 January February March April May 1. Which month in 2008 had the highest OFW remittance? 2. How much was the highest OFW remittance in 2009? 3. Which month in 2009 had the lowest OFW remittance? 4. Which month has the lowest OFW remittance in 2008? 5. Which month had almost the same number of remittances in both years?
00 %24 %23 Moneysaver's Bank offers a savings account that earns 7.5% interest compounded continuously. If Laura deposits $2200, how much will she have in the account after three years, assuming she makes no withdrawals? Do not round any intermediate computations, and round your answer to the nearest cent. If necessary, refer to the list of financial formulas. Check Save For Later Submit Assignmers O 2022 McGraw Hill LLC. Al Rights Reserved Pacy Center / Accesibiity userTranscript.csv 77°F Sunny dp t6 esc insert prt sc delete DDI & $4 4 backspace lock 7. 6 3. tab enter caps lock H. pause ↑ shift shift 1 alt ctrl alt