The equation of proportional situation is y = ax.
Therefore your answer is y = 14x
Given:
Principal value = 4580
Rate of interest = 6% apr compounded weekly
To find:
The total amount after 2 years.
Solution:
The formula for amount is
Where, P is principal, r is rate of interest, n is number of times interest compounded in an year and t is number of years.
1 year = 52 week
n=52
Putting P=4580, r=6, n=52, t=2 in the above formula, we get
On further simplification, we get
Therefore, the ending balance after 2 years is 5163.58.
Sorry about the drawing but the line starts at the origin of the graph and since it is -x which means it has a negative slope. So the line would start at the origin going down by the slope of -1. hope this makes sense