How much money will you have in 6 months if you invest $1000 at 3%
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Answer:
Step-by-step explanation:
Hi there!
<u>What we need to know:</u>
- Linear equations are typically organized in slope-intercept form:
where <em>m</em> is the slope and <em>b</em> is the y-intercept (the value of y when the line crosses the y-axis)
- Parallel lines always have the same slope
<u>1) Determine the slope (</u><u><em>m</em></u><u>)</u>
Given this equation, we can identify the slope to be -3 since it's in the place of <em>m</em> in .
Because parallel lines have the same slope, -3 is therefore the slope of the line we're currently solving for. Plug this into :
<u>2) Determine the y-intercept (</u><u><em>b</em></u><u>)</u>
Plug in the given point (1,5) and solve for <em>b:</em>
Therefore, the y-intercept is 8. Plug this back into :
I hope this helps!