What is the slope intercept equation of the line below
1 answer:
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ANSWER
84%,0.82,¾,⅓
EXPLANATION
Convert everything to decimals.
The last one is already in decimals.
We can now see clearly, that
This implies that,
Hence from highest to least, we have
84%,0.82,¾,⅓
The number of years will it take for the balance of the account to be $6500 with simple interest is 4 years.
<h3>What is simple interest?</h3>Simple interest is the amount charged on the principal amount with a fixed rate of interest for a time period. Simple interest calculated only on the principal amount.
The formula for the simple interest can be given as,
Here, (<em>I</em>) is the interest amount on the principal amount of (<em>P</em>) with the rate of (<em>r</em>) in the time period of (<em>t</em>).
The principal amount deposited in the account is $5000 and the final amount is $6500. Thus, the interest rate will be,
Suppose it took <em>t</em> years to get $1500 interest in the account. Therefore, put the values in the above formula as,
Solve it further for <em>t </em>as,
Hence, the number of years will it take for the balance of the account to be $6500 with simple interest is 4 years.
Learn more about the simple interest here;