Asked by Anonymous
Samantha finds a bank, Star Bank, which offers a CD account with a 2% interest rate every month. Star Bank’s interest is not compounded. The interest is
based on the original amount of deposit. Remember that Samantha has $500 to start the account. She will not withdraw or deposit more money in the account for 2 years.
5. Fill in the table showing the amount of money in the Star Bank CD account over 4 months.
Months 0 1 2 3 4
Amount in CD account $500.00
6. Is the relation a linear function? If so, state the rate of change and write the equation of the relation, where x is the number of months and y is the amount in the account. If not, explain why not.
based on the original amount of deposit. Remember that Samantha has $500 to start the account. She will not withdraw or deposit more money in the account for 2 years.
5. Fill in the table showing the amount of money in the Star Bank CD account over 4 months.
Months 0 1 2 3 4
Amount in CD account $500.00
6. Is the relation a linear function? If so, state the rate of change and write the equation of the relation, where x is the number of months and y is the amount in the account. If not, explain why not.
Answers
Answered by
jolly rancher
since the interest is not compounded and only based on the original deposit, she receives monthly interest of:
$500 * 0.02 = $10
mo-0: $500
mo-1: $510
mo-2: $520
mo-3: $530
mo-4: $540
Yes - linear function, since the rate of change is constant.
$500 * 0.02 = $10
mo-0: $500
mo-1: $510
mo-2: $520
mo-3: $530
mo-4: $540
Yes - linear function, since the rate of change is constant.
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