Answer: y=1/2x-1
Step-by-step explanation:
To find the equation of the line that passes through the points, we need to find out slope, m.
We plug our points into this formula to find slope.
Our slope is 1/2. To find our y-intercept, b, we would plug any point into the equation for slope-intercept form.
y=mx+b
y=1/2x+b
1=1/2(4)+b
1=2+b
b=-1
Now that we know b, our equation is y=1/2x-1.
Answer:
To earn $10 in 1st month, the principal must be $4,000.
No, the poster cannot claim that "Open an account of $2 comma 500 and earn at least $10 interest in 1 month!".
Step-by-step explanation:
We have been given that a bank manager wants to encourage new customers to open accounts with principals of at least $2,500. He decides to make a poster advertising a simple interest rate of 3%. We are asked to find the principal to advertise that one can earn $10 the first month.
We will use simple interest formula to solve our given problem.
, where,
I = Amount of interest,
P = Principal amount,
r = Annual interest rate in decimal form,
t = Time in years.
1 month will be equal to .
Therefore, to earn $10 in 1st month, the principal must be $4,000.
Now, we will check if an account of $2,500 can earn at least $10 interest in 1 month.
Since the account earns an amount of $6.25 in one month, therefore, the poster is not true.