Concept explainers
(a)
To complete the table.
(a)
Explanation of Solution
Given information:
B deposits $550 at a 6% simple interest rate and A deposits $550 at 6% interest rate that is compounded annually.
Calculation:
Formula to evaluate compound interest is given by
Where P is the principal, r is the rate of interest, n is the number of years
Formula to evaluate simple interest is given by
Where P is the principal, r is the rate of interest, t is the number of years
Years | Ben | Anica |
2 | 66 | 69.98 |
4 | 132 | 144.36 |
6 | 198 | 230.18 |
8 | 264 | 326.61 |
10 | 330 | 434.96 |
(b)
To graph: the time in years on the
(b)
Explanation of Solution
Consider table of interest as shown:
Years | Ben | Anica |
2 | 66 | 69.98 |
4 | 132 | 144.36 |
6 | 198 | 230.18 |
8 | 264 | 326.61 |
10 | 330 | 434.96 |
Construct the graph for interest earned by Arica and Ben.
(c)
To compare: the graphs of the two functions.
(c)
Explanation of Solution
Consider the graph for interest earned.
The graph of Ben’s interest is in a straight line. The graph of Anica’s interest is increasing at a faster rate and is not in a straight line.
Chapter 7 Solutions
Pre-Algebra Student Edition
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