Kathy puts $3000 into an account that pays 5% simple interest annually. a) Create a linear model to relate the amount of the investment, A, to time, t, in years. b) Graph the amount of the investment versus time. c) How long will it take for Kathy’s investment to double in value? d) What interest rate is required for the investment to double in value in 10 years?

Kathy puts $3000 into an account that pays 5% simple interest annually. a) Create a linear model to relate the amount of the investment, A, to time, t, in years. b) Graph the amount of the investment versus time. c) How long will it take for Kathy’s investment to double in value? d) What interest rate is required for the investment to double in value in 10 years?

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

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Kathy puts $3000 into an account that pays 5% simple interest annually.
a) Create a linear model to relate the amount of the investment, A, to time, t, in years.
b) Graph the amount of the investment versus time.
c) How long will it take for Kathy’s investment to double in value?
d) What interest rate is required for the investment to double in value in 10 years?

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