Suppose you buy a CD for $200 that earns 3% APR and is compounded quarterly. The CD matures in 2 years. How much will this CD be
2 answers:
You might be interested in
Answer:
y = 1/40x + 20
Step-by-step explanation:
Slope-intercept equation format:
y = mx + b
m = slope/ gradient/ constant of variation/ rate of change
b = y-intercept
To find the slope, use the formula:
Find two random points:
1 - (0.5, 40) , 2 - (1, 60)
Plug in:
Solve:
Divide:
The y-intercept is when the x-coordinate is equal to 0.
The y-intercept is always the beginning.
So observing the graph, the first point is (0, 20)
The x-coordinate is 0.
Y intercept = 20.
Plug in both slope and y-intercept:
y = 1/40x + 20