The wording "earns 8% interest each year" does not make it clear whether the savings account interest is compounded. (It usually is in real life, but not always in math problems.) The graphical solution shows both simple interest and interest compounded annually.
Simple interest: the balances will both be $2941.18 after 5.88 years.
Compound interest: the balances will both be $3111.06 after 5.74 years.
Yes. it would be only about 5 pounds
Answer:
Step-by-step explanation:
We do not have enough information for slope intercept form. But we can use the point-slope formula to find the information. The formula is where we substitute a point (x,y) for .
We know it is parrallel to the listed line in slope intercept form. Recall, y=mx+b tells that the m is slope. Since y=6x-1, then m=6. We also have a point for the new line (-3, 4). We input m and .
We now simplify the parenthesis and solve for y.
We add 4 to both sides to isolate y,
This is slope intercept form. The line as slope 6 and y-intercept (0,22) or b=22.
The answers are 24 and -2