Think of "of" as times, so you are finding out what multiplies by 106% to get 7.95.
$7.95 divided by 1.06 = $7.50
106% of $7.50 = $7.95
The answer in slope-intercept form would be:
y=1/3x-3
Perpendicular lines have negative reciprocal slop to each other.
So first solve for y.
Slope will be the coefficient of x in y=mx+c form.
m is the slope. Then negative reciprocal this slope and in this case the answer is -1/5
The amount to be paid in rent after 2 years if the rent as of now is $3,000 will be; $3,213.675
The question allows that we choose the amount being paid as rent as of now.
Let the rent paid as of now be; $3,000
In essence; after the first year; the amount increases by 3.5% to become;
After the second year; we have;
Ultimately; the amount to be paid after 2 years will be; $3,213.675.
When given the opportunity to change rent contracts;
- A situation that will be beneficial would be a 3.5% reduction in rent per year
- A situation that will not be beneficial would be a 7% increase in rent per year.
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