Linear Functions

Question

Iris’s checking account pays simple interest at 3% per year. She has $185 in

her account. Write a linear function to model the amount of money in her

checking account at any time t.

Answer 1

Amount originally in account = 185

t = number of years since she opened the account

The interest = 3% (amount in the account) (number of years she's had the account)

Amount in the account = 185 + interest

= 185 + .03 (185)(t) or

= 185(1 + .03t)