When $7,900 is invested in a savings account paying simple interest for the year, the interest, i in dollars, can be obtained from the equation i=7,900r, where r is the rate of interest in decimal form. Graph i=7,900r, for r up to and including a rate of 16%. If the rate is 14%, how much interest is earned?
When $7,900 is invested in a savings account paying simple interest for the year, the interest, i in dollars, can be obtained from the equation i=7,900r, where r is the rate of interest in decimal form. Graph i=7,900r, for r up to and including a rate of 16%. If the rate is 14%, how much interest is earned?
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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When
$7,900
is invested in a savings account paying simple interest for the year, the interest, i in dollars, can be obtained from the equation
i=7,900r,
where r is the rate of interest in decimal form. Graph
i=7,900r,
for r up to and including a rate of 16%. If the rate is
14%,
how much interest is earned?$11,060
$1,106
$1,090
$
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