How much would you have to deposit today to have an accumulated amount of $20,000 in 20 years if yearly interest is 4.75% compou
nded continuously?
1 answer:
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First find the slope of the given line like this:
If two lines are parallel, then they have the same slope, so the equation we are looking for is in the form:
and we have to find b using the given point like this:
Substitute x = -2 and y=4 in the above equation like this and solve for a:
The equation of the line is then the following:
If two lines are parallel, then they have the same slope, so the equation we are looking for is in the form:
Substitute x = -2 and y=4 in the above equation like this and solve for a:
The equation of the line is then the following: