Wednesday

August 20, 2014

August 20, 2014

Posted by **kj** on Saturday, August 17, 2013 at 11:11am.

- adanced algebra -
**Steve**, Saturday, August 17, 2013 at 3:06pmif interest is simple,

7500(1+.0125x) = 9944

x = 26 years

If compound annual interest,

7500(1+.0125)^x = 9944

x = 22.7

The graph for simple interest is just a straight line.

The graph for compound interest is a curve which gets steeper and steeper. Figure the balance after each year and plot the points, then draw the line segments.

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