Jed deposited $400 into a bank that offers 3.9% interest rate, compounded daily. In how many years will his balance be $800? A.
2 answers:
You might be interested in
For this case we have that by definition, the equation of the line in the slope-intersection form is given by:
Where:
m: It is the slope of the line
b: It is the cut-off point with the y axis
We have the following points through which the line passes:
We find the slope of the line:
Thus, the equation of the line is of the form:
We substitute one of the points and find b:
Finally, the equation is:
Answer: