Interest earnings: 100I = 35,000T
If $5000 dollars is invested in an account paying 7% simple interest, the amount of interest earned is given by the formula shown, where I is the interest and T is the time in years. Begin by solving the formula for I. (a) How much interest is earned in 5 yr? (b) How much is earned in 10 yr? (c) Use the two points (5 yr, interest) and (10 yr, interest) to calculate the slope of this line. What do you notice?
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