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Answer:
Initial principal -$300,000
Investment amount after yr 3-$390,000
Final investment amount, after 6 yrs-$519,090
Step-by-step explanation:
Let X be the amount initially invested.
#The amount after 3 yrs of simple interest is calculated as:
#The amount after 5 yrs is calculated by compounding the amount after 3 yrs for 2 yrs at 10%:
Hence, the amount initially invested as $300,000
#Amount of invested after 6 yrs is therefore:
Hence, the total amount of the investment after 6 yrs is $519,090
#Substitute X in simple interest equation to find amount after 3 yrs of simple interest:
Hence, the total amount of the investment after first 3 yrs is $390,000
Answer:
y = 4x + 3
Step-by-step explanation:
Step 1: Write the general equation
y = mx + b
Step 2: Identify b, the Y intercept (x = 0)
b is the value of y when x = 0.
From the graph, when x = 0, y = 3.
Therefore, b = 3
Step 3: The second point from graph (x, y):
P = (1, 7)
Step 4: Define m as ratio of rise / run:
Step 5: Put coordinates into ratio:
Using the two coordinates, (0, 3) and (1, 7), we would have,
Step 6: Perform subtraction to get slope:
m = 4
Step 7: Substitute values into y = mx + b:
Thus, plug in the values of m and b into the slope-intercept equation.
b = 3, m = 4, therefore:
y = (4)x + (3)
Step 8: Write answer:
y = 4x + 3