A savings account with simple interest can be modeled by which type of graph?

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3mar 3mar · Answer 1 · 2017-05-25T09:05:02+02:00

For simple interest, it could be represented by a straight line

[tex]I=(P.r)*t[/tex]

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wagonbelleville wagonbelleville · Answer 2 · 2019-03-07T08:07:43+01:00

Answer:

The simple interest can be modeled by a linear function.

Step-by-step explanation:

We know that,

The equation to find the simple interest is, [tex]I=Prt[/tex],

where I = simple interest, P = Principle amount, r = rate of interest and t = amount of time.

Now, while calculating the simple interest, 'time is usually a variable term'.

So, [tex]I=Prt[/tex] implies [tex]I=kt[/tex], where [tex]k=Pr[/tex] is a constant.

Thus, the equation [tex]I=kt[/tex] represents a linear function.

Hence, the simple interest can be modeled by a linear function.