Albert took out a loan for 5000$ for one year at a 6% simple interest rate.How much will he pay back, including interest at the
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Answer:
Step-by-step explanation:
Given two points on the line (0, 16) and (3, 40), an equation for the line can be written using the slope-intercept line equation which takes the format .
Where,
b = y-intercept or the point at which the line cuts the y-axis.
Let's find slope (m) using the slope formula:
Let,
Find b. Substitute the values of x = 0, y = 16, and m = 8 in the slope-intercept formula to find b.
Plug in the values of m and b into the slope-intercept formula to get the equation of the line.
Let's use the equation to find x when y = 112.
Substitute y = 112 in the equation
Divide both sides by 8