Problem Solving What is the difference between simple interest and compound
interest. Use this example to help you explain the difference.
• $1,000 compound interest at 1.2% over 3 years
• $1,000 simple interest at 1.2% over 3 years
Simple interest
- Pre
Compound interest
A = P(1+ry

The description below represents function a and the table represents function b: function a the function is 5 more than 3 times x. function b x y −1 2 0 5 1 8 which statement is correct about the slope and y-intercept of the two functions? (1 point) their slopes are equal but y-intercepts are not equal. their slopes are not equal but y-intercepts are equal. both slopes and y intercepts are equal. neither slopes nor y-intercepts are equal.