What is the total amount that Matthew's bank will receive after lending him $8,000 for four years at an interest rate of 6 perce
2 answers:
Answer:
$10,099.82
Step-by-step explanation:
Given formula:
where:
- TA = total amount
- P = principal amount
- i = interest rate (in decimal form)
- t = time (in years)
Given:
- P = $8,000
- i = 6% = 0.06
- t = 4 years
Substituting the given values into the formula:
Therefore, the total amount the Matthew's bank will receive is $10,099.82
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Answer:
Hi there!
Recall that slope-intercept form is:
y = mx + b
Where m = slope
In this instance, we are given a slope of 4,
therefore:
y = 4x + b
Substitute in the x and y coordinates of the point given:
0 = 4(3) + b
0 = 12 + b
Substract 12 from both side:
-12 = b
Therefore, the equation would be:
y = 4x - 12
Graph the equation by finding x and y values or using a calculator:
x = 0, y = 4(0) - 12 = 12 (0, 12)
x = 1, y = 4(1) - 12 = - 8 (1, -8)
x = 2, y = 4(2) - 12 = - 4 (2, -4)
x = 3, y = 4(3) - 12 = 0 (3, 0)
And so forth:
Thanks<8
