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Veronica deposited $11 in a savings account that earns 1.9% simple interest. Which graph represents this scenario?

Veronica deposited 11 in a savings account that earns 19 simple interest Which graph represents this scenario class=
Veronica deposited 11 in a savings account that earns 19 simple interest Which graph represents this scenario class=

Respuesta :

mhanifa

Answer:

Option C

Step-by-step explanation:

  • Initial balance= $11
  • Interest rate = 1.9% PA simple

It will be graphed as function:

  • y = 11 + 0.019x

Since is has a very small slope of 0.019 it will be shown almost parallel to x axis.

Some points on the graph:

  • Amount in 1 year= 11*(1+0.019) = $11.21
  • Amount in 2 years = 11*(1+2*0.019) = $11.42
  • Amount in 6 years = 11*(1+6*0.019) = $12.25
  • Amount in 10 years = 11*(1 + 10*0.019) = $13.09

Correct graph is option C

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