Question 21. Refer to the graph on the opposite page to answer question 21. 21. In a management meeting a manager showed the graph and was a huge drop in the number of customer claimed: “There complaints in 2007 compared to 2006”. Does the graph support the your answer. manager’s claim? Explain YOUR MONEY 7 $ IN $ YEARS DOUBLE 10% fixed interest each year, over a period of 7 years Minimum deposit $1000.00 Handy financial hint For a quick way to estimate how much your investment is worth, use this formula: A = P(1 + r)t A = new amount after the time period. P = principal (the amount you invest) r = interest rate t = time period in years
Question 21. Refer to the graph on the opposite page to answer question 21. 21. In a management meeting a manager showed the graph and claimed: “There was a huge drop in the number of customer complaints in 2007 compared to 2006”. Does the graph support the manager’s claim? Explain your answer. $ $ DOUBLE YOUR MONEY IN 7 YEARS 10% fixed interest each year, over a period of 7 years Minimum deposit $1000.00 Handy financial hint For a quick way to estimate how much your investment is worth, use this formula: A = P(1 + r)t A = new amount after the time period. P = principal (the amount you invest) r = interest rate t = time period in years