Find the simple interest paid to the nearest cent for each loan, interest rate, and time. $500, 12%, 18 months
2 answers:
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The first thing we must do for this case is to find the equation of the line.
We have then:
We choose an ordered pair:
Substituting values:
From here we conclude:
Intersection with y:
We evaluate x = 0 in the function:
Slope of the line:
Point (-2, -5):
We evaluate the value of x = -2 and the value of y = -5
The equation is satisfied.
Point (8, 0):
It is part of the table, therefore belongs to the line.
Answer:
The slope is 1/2
The y-intercept is -4.
The points (-2, -5) and (8, 0) are also on the line.
We have then:
We choose an ordered pair:
Substituting values:
From here we conclude:
Intersection with y:
We evaluate x = 0 in the function:
Slope of the line:
Point (-2, -5):
We evaluate the value of x = -2 and the value of y = -5
The equation is satisfied.
Point (8, 0):
It is part of the table, therefore belongs to the line.
Answer:
The slope is 1/2
The y-intercept is -4.
The points (-2, -5) and (8, 0) are also on the line.