The graph shows the amount of water that remains in a barrel after it begins to leak. The variable x represents the number of da
ys that have passed since the barrel was filled, and y represents the number of gallons of water that remain in the barrel. A graph titled Water Supply with number of days on the x-axis and gallons of water left on the y-axis. A line goes through points (6, 33) and (15, 15). What does the y-intercept represent?
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Since simple interest doesn't involve compounding, the same amount gets added on every year. So, the equation for the simple interest received is 
, where 
is the total interest, 
is the original deposit (or "principal"), 
is the interest rate, and 
is the time passed in years.
Plugging in our values, we can solve for the interest rate:
Plugging in our values, we can solve for the interest rate: