What is 3/5 written as a decimal? 0.12 0.3 0.6 1.67
2 answers:
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Answer:
$268.78
Step-by-step explanation:
We will use the compound interest formula to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
First, change 3% into its decimal form:
3% -> -> 0.03
Now, plug in the values:
After 10 years, you will have $268.78
For this case we have the following equation:
We manipulate algebraically to bring the equation to the slope-intersection form y = mx + b
Where:
m: It's the slope
b: It is the cut-off point with the y axis
By definition, if two lines are parallel then their slopes are equal.
Thus, the line is of the form:
We find the cut-off point by replacing the given point:
Thus, the line is of the form:
Answer: