Answer:
time = 28 years
Step-by-step explanation:
Given,
principal amount = $10,000
rate = 4%
total amount = $30,000
According to compound interest formula
where, A = total amount
P = principal amount
r = rate
t = time in years
so, from the question we can write,
by taking log on both sides, we will get
=> log3 = t.log(1.04)
=> t = 28.01
So, the time taken to get the amount from 10000 to 30000 is 28 years.
Further explanation:
We have to find the equation of the line first to graph the line.
The general form of slope-intercept form of equation of line is:
Given
Putting the value of slope in the equation
To find the value of b, putting the point (-3,5) in equation
Putting the values of b and m
The graph is made by using online graphing tool Desmos.
Keywords: Equation of line, graph of line
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