Joe borrowed $2,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 5 years?
1 answer:
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Answer:
see explanation
Step-by-step explanation:
The equation of a line in slope- intercept form is
y = mx + c ( m is the slope and c the y- intercept )
To calculate m use the slope formula
m = (y₂ - y₁ ) / (x₂ - x₁ )
3
Using (x₁, y₁ ) = (0, 0) and (x₂, y₂ ) = (- 3, 6)
m = =
= - 2
Since the line passes through the origin (0, 0) then y- intercept is 0
y = - 2x ← equation of line
4
let (x₁, y₁ ) = (6, 0) and (x₂, y₂ ) = (0, 3)
m = =
= -
note the line crosses the y- axis at (0, 3) ⇒ c = 3
y = - x + 3 ← equation of line
5
let (x₁, y₁ ) = (0, 3) and (x₂, y₂ ) = (-2, - 3)
m = =
= 3
note the line crosses the y- axis at (0, 3) ⇒ c = 3
y = 3x + 3 ← equation of line