- #1
aisha
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This girl was given 1000 dollars to invest and she buys an investment that pays 4% per year simple interest.
I completed a chart to show how much she will have at the end of 5 years calculating the annual interest each time and then calculating the total amount for the end of the year.
I need to determine an equation that best models the relationship between the year and the total amount. Here are the numbers that are needed to make the equation...
Year -->Total amount
1 ------->1040
2-------->1080
3-------->1120
4-------->1160
5-------->1200
I've been trying for a while but can't get anything that works, can someone please give me a hint!
I completed a chart to show how much she will have at the end of 5 years calculating the annual interest each time and then calculating the total amount for the end of the year.
I need to determine an equation that best models the relationship between the year and the total amount. Here are the numbers that are needed to make the equation...
Year -->Total amount
1 ------->1040
2-------->1080
3-------->1120
4-------->1160
5-------->1200
I've been trying for a while but can't get anything that works, can someone please give me a hint!