If you bought a stock last year for a price of $98, and it has gone down 17% since
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For this case we have that by definition, the equation of a line of the slope-intersection form is given by:
Where:
m: It is the slope of the line
b: It is the cut point with the y axis
By definition, if two lines are perpendicular then the product of their slopes is -1.
If we have:
Thus, the equation is of the form:
We substitute the point:
Finally, the equation is:
Answer: