Chapter 6.1, Problem 5CYP

To determine

To write the polynomial for the interest that will be earned in one year if $x$ dollars are invested.

Answer to Problem 5CYP

  $P(x)=\frac{3x}{50}$

Explanation of Solution

Given:

Paul has $\$900$ to invest with interest rate of $1.8\%$ and market amount pays $4.2\%$ per year.

Calculation:

The total interest rate here is $1.8\%+4.2\%=6\%$

So the polynomial for the interest that will be earned in one year if $x$ dollars are invested is-

  $\begin{array}{l}P(x)=\frac{x\times 6\times 1}{100}\\ P(x)=\frac{3x}{50}\end{array}$