Terry Bergolt's bank granted him a single-payment loan of $4,400 at an interest rate of 6% exact interest. The term of the loan
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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 m is the slope and b is the y-intercept (the value of y when x is equal to 0)
<u>1) Determine the slope (m)</u>
where two points that the line passes through are
and
We're given the point (2,10) and the y-intercept of 4. Recall that the y-intercept occurs when x is equal to 0. This means that the y-intercept occurs at (0,4), giving us our second point.
Plug these points into the equation
Therefore, the slope of the line is 3. Plug this into
<u>2) Determine the y-intercept (b)</u>
The y-intercept is given; it is 4. Plug this back into
I hope this helps!