Calculate the annual effective interest rate of a 12 % nominal annual interest rate compound monthly
1 answer:
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Answer:B & E
Step-by-step explanation:
We can first rearrange the function to isolate y. Then, we can find the slope as the function is in the form y=mx+b.
Since parallel lines have the same slope, we can put the slope of 3/4 into the point slope form to get the answer.
<em>For reference, the point-slope form is </em>
The first line is found in option E, so option E is one of the correct options.
We can also move the x to the other side, as two of the 5 options have both variables on the left (B and C).
If we multiply the whole equation by -4, we can get rid of the fraction.
Hence, option B is also correct.