Question

You deposited $350 in the bank with simple interest several years ago. You are keeping track of your account balance by drawing a graph. The points (3,21)
and (8,56)
are on the graph. What is the amount of interest you earn each year?(1 point)

$7.00

$77.00

$35.00

$2.67

Answer 1

Simple interest gives a linear graph, so the yearly interest is the slope:
(56 - 21) / (8 - 3) = 35 / 5 = 7.
You earn $7.00 in interest each year.