Suppose Adam wants to have $750,000 in his IRA at the end of 30 years. He decides to invest in an annuity paying 6% interest, co
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Answer:
The linear function becomes:
y = 15x + 10
Here, 'x' is the number of hours, b=10 is the initial service fee i.e. $10, 15 is slope or rate of change, and 'y' is the cost.
Step-by-step explanation:
We know that the slope-intercept of a linear function is
where m is the slope and b is the y-intercept
Note: Slope is also termed as the 'rate of change'.
Given that Aron charges an initial service fee of 10$.
Thus, the y-intercept = b = 10
As the rate of change = 15$ per hour
so the slope = m = 15
Therefore, the linear function becomes:
y = 15x + 10
Here, 'x' is the number of hours, b=10 is the initial service fee i.e. $10, 15 is slope or rate of change, and 'y' is the cost.
For example, in one hour i.e. x = 1, the cost 'y' will be:
y = 15x + 10
y = 15(1) + 10
y = 25 + 10
y = $25
Therefore, in one hour (x=1), the cost will be: y = $25
