What is the annual interest paid on an account that has a $1000 balance if the rate is
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For this case we have that, by definition, the equation of a line in the slope-intersection form is given by:
Where:
m: It's the slope
b: It is the cutting point with the y axis
We have, according to the statement data that:
So, the equation is of the form:
We also have that the line intersects the "x" axis at -3, that is, the line passes through the point
We substitute to find "b":
Finally, the equation is of the form:
Answer: