Answer:
b
Step-by-step explanation:
Hello there!
The first thing you must do is to find the slope of the line. To do this, find the negative reciprocal of your current equation. Since your current slope is 3, the negative reciprocal of that would be -1/3, which would be your slope.
Now that you have your slope, plug it into the slope intercept equation as well as your known points:
(1,8) m(slope)=-1/3
8=1(-1/3)+b
Now, solve for b:
8=1(-1/3)+b
8=-1/3+b
b=25/3
Now that you have the slope and the b value, you can conclude that your equation would be:
y=-1/3x+25/3
Answer:
The account balance after 24 months will be $23,092.70
Step-by-step explanation:
Given data
P= $20,000
r= 7.77%= 0.077
t= 2 years
A= ?
n= 24
The compound interest formula is
Inserting our values to solve for A we have
Multiply it out. 3*1+3*4t=3+12t
Multiply it for all of the area
