Write an equation in slope intercept form with the given information slope=10 and goes through point (1,5)
1 answer:
You might be interested in
The required equation is y = 10000(1.0.25)^2x. The value of Christina’s investment after 20 years is $30,773.14
Compound interest
The interest accrued on a sum of money is known as interest. The formula for calculating the compound interest is expressed as:
y = y0(1+r/n)^nx
where
x is the time taken
r is the rate in decimal
n is the compounding time
Given the following
x = 20 years
n 2(semi annually)
r = 5.7% = 0.057
Substitute
y = 10000(1+0.057/2)^2(20)
y = 10,000(1 + 0.0285)^40
y = 10000(1.0285)^40
y = 30,773.14
Hence the value of Christina’s investment after 20 years is $30,773.14
Learn more on compound interest here: brainly.com/question/24924853
