Question 466514: When $ 8500 is invested in a savings account paying simple interest for the year, the interest, i in dollars, can be obtained from the equation i = 8500r , where r is the rate of interest in decimal form. Graph i = 8500r , for r up to and including a rate of 16%. If the rate is 12%, how much interest is earned?
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! to graph this, we make y = 8500*x where x is the interest rate.
since the graph shows x as an integers from 1 to 20, then we need to modify the equation to show as y = 8500 * .01*x.
this gets us the decimal equivalent of the percent.
10% = .1
1% = .01
etc.
the graph will look like this:
i drew a horizontal line at y = 1020 to show you that when x = .12, y = 1020.
8500 * .12 = 1020 which is the simple interest on 8500 when the rate is equal to .12, or 12%.
if you trace a vertical line at x = 12, you will see that it intersect the line of the equation at y = 1020.
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