Question 1-16
Mark is depositing $10,000 at a bank that is offering an account that earns a simple interest rate of 7% per year.
Part A: After 2 years, the interest earned in the account will be:
O(0.07)(10, 000)²
O (0.7)(10, 000)
O (10,000)(0.7)(2)
O (10, 000)(0.07)(2)
Part B: This situation models
exponential growth
linear growth
exponential decay
linear decay