SOLUTION: Annie finds another bank, Star Bank, that 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 amo

Algebra ->  Linear-equations -> SOLUTION: Annie finds another bank, Star Bank, that 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 amo      Log On


   

Question 1127253: Annie finds another bank, Star Bank, that 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 Annie has $500 to start the account. She will not withdraw or deposit more money in the account for 2 years. (a)
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 $510 $520.2 $530.6 $541.22 (b)
If Annie graphed the relation, what would the y-intercept be? Explain how you know this? (c) Is the relation a function? Explain why or why not. (d) Is the relation linear? Explain how you know this. 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, give a clear explanation as to why not. (e) Annie plans to keep her CD account for 2 years. Which bank would you suggest Annie open her account with. Explain why you think that opening the account with that bank is the better deal.
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


The question doesn't make sense. You state that the interest is NOT compounded, but the data in the table indicates the interest is compounded monthly. Repost your question after you have either corrected the conditions of the problem or the data in the table.


John

My calculator said it, I believe it, that settles it