Answer:
After 23 years , the capital will get three times as big
Step-by-step explanation:
Firstly, let us write the compound interest formula
P = I( 1 + r)^n
Since we are considering a capital rise of 3 times
If I, the initial value is x, the P
value later will be 3x
Interest rate is 5/100 = 0.05
so we need the value of t
This will be;
3x = x(1 + 0.05)^t
3= 1.05^t
ln 3 = t ln 1.05
t = ln 3/ln 1.05
t = 23 years
The linear equation that passes through the points (0, 3) and (-4, 0) is:
y = (3/4)*x + 3
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How to find the linear equation?</h3>
A general linear equation in the slope-intercept form is written as:
y = m*x + b
Where y and x are the variables, m is the slope, and b is the y-intercept.
Here we know that the y-intercept is (0, 3), then we have b = 3, replacing that in the equation above we will get:
y = m*x + 3
Now we also know that the line passes through the point (-4, 0), replacing these values in the equation above we can find the value of the slope:
0 = m*-4 + 3
m*4 = 3
m = 3/4
Then the linear equation is:
y = (3/4)*x + 3
Learn more about linear equations.
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