The third choice is correct and can be found by plugging the values into Point-Slope Form.
Answer:
Results are below.
Step-by-step explanation:
Giving the following information:
Today, average yearly tuition and fees for one year at the university are about $10,350.
I will assume a yearly interest rate of 8%.
<u>First, we need to calculate the total amount needed:</u>
Future value (FV)= 10,350*4= $41,400
<u>Now, using the following formula, the annual deposit required:</u>
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (41,400*0.08) / [(1.08^15) - 1]
A= $7,194.22
Answer:
Slope = 2
Step-by-step explanation:
(x₁ , y₁) = ( 1 , 1) & (x₂,y₂) = (-1,-3)
