Calculate the maturity value of a loan if borrowing 5000 at 7% simple interest for 48 months
2 answers:
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Answer:
x = 1
Step-by-step explanation:
There are a couple of ways to solve this. One is to graph the left side of the equation, graph the right side of the equation, and look for the point where those graphs intersect. It is at x = 1. The first attached graph shows this solution.
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Another method for solving such an equation is to subtract one side from the other and look for the value of x that makes the resulting expression zero.
(-2x +3) -(-3(-x) -2) = 0
A graphing calculator doesn't need to have this simplified. If it is simplified, it becomes ...
-5x +5 = 0
So, the graphed line is y = -5x+5. Its x-intercept is x=1, the solution of the original equation. The graph of this is shown in the second attachment.
