How much would 200 invested at 4% interest compounded monthly be worth after 8 years round to the nearest cent
1 answer:
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Answer:
(22,0)
Step-by-step explanation:
1. Select any two points given and find their slope (rise/run)
(-38, 40) and (-23, 30)
slope = = - 2/3
2. Use the slope and one of the points to create an equation of the line in the format y = mx + b, where m = slope and b = y-intercept.
y = mx + b ⇒ 40 = -2/3 (-38) + b
3. Solve for b
40 = -2/3 (-38) + b
40 = 76/3 + b
40 - 76/3 = b
b = 44/3
4. To find the x-intercept, set y = 0, and solve.
y = -2/3 x + 44/3
0 = -2/3 x + 44/3
2/3 x = 44/3
x = 22
Hope this helped!