Heather invested $8000 in a 4- year certificate of deposit (CD) that pays 4.1 interest compound annually. What is the value of t
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Answer:
Step-by-step explanation:
The point-slope form of a line is given by:
Where
(x_1,y_1) is the coordinate pair (any of the points given)
m is the slope. The ratio of change in y coordinates by x coordinates
Let's calculate the slope:
Now, it is given "y - 4", so y_1 is 4, so they are using the coordinate pair (7,4). So we can say x_1 = 7
Now we have all the values, lets write the equation:
This is the point-slope form.
the difference from 40000 to the future value in 2020, namely 5 years later is simply the yield or interest amount.