The Amount $A$ Of Money on Deposit For $t$ Years in an Account Earning Simple Interest Is a Linear

question 61

Multiple Choice

The amount $A$ of money on deposit for $t$ years in an account earning simple interest is a linear function of $t$ . Express that function as an equation if $A = \$ 57$ when $t = 7$ and $A = \$ 27$ when $t = 1$ .

• A) \(A = - 5 t + 22\)
• B) \(A = 5 t - 22\)
• C) \(A = 27 t + 22\)
• D) \(\quad A = 27 t - 22\)
• E) \(\quad A = 5 t + 22\)

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Definitions:

Priority

The established order of importance or urgency given to claims, debts, rights, or actions in legal, financial, or other operational contexts.

Floating Lien

A lien on a debtor's assets that changes over time with the inventory levels or changes in collateral included under the lien.

Purchase-Money Security Interest

A legal claim or lien that grants the lender a security interest in the item being purchased, as collateral for the loan.

Right of Redemption

A debtor's legal right to reclaim property that has been foreclosed upon or repossessed by paying off debt, usually within a specific period.