Linear functions can be written in y=mx and y=mx+b. In which form is the linear function in the example problem? What are the va
lues of m and b and what do they represent?
2 answers:
y = mx + b
"m" is the slope, "b" is the y-intercept (the y value when x = 0) or (0,y)
y = mx
"m" is the slope (the y-intercept is 0/it crosses the origin (0,0))
When x = 0, y is 2, so the y-intercept is 2.
You can find the slope by using the slope formula and plugging in two points, or you use this:
Rise is the number of units you go up(+) or down(-)
Run is the number of units you go to the right.
If you look at the graph, from each point, you go up 1 unit, and to the right 1 unit. So the slope is 1/1 or 1.
y = mx + b
m = 1 and it represents the slope of the line
b = 2 and it represents the y-intercept of the line
y = 1x + 2 or y = x + 2
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The maturity value of a loan of $2500 at the simple interest rate of 4.3% that is needed to be repaid in 8 months is $2607.50.
<h3>What is simple interest?</h3>Simple interest is a method of calculating interest on an amount for n period of time with a rate of interest of r. It is calculated with the help of the formula,
where SI is the simple interest, P is the principal amount, R is the rate of interest, and T is the time period.
As it is given the principal amount of the loan is $2500, while the interest rate is 4.3%, therefore, after a period the interest on the loan will be,
Thus, the interest amount on the loan of $2500, is $107.5.
Now, in order to find the value of the loan we need to add the interest and the principal amount of the loan together. Therefore, the value of the loan can be written as,
The value of the loan = Principal Amount + Interest rate
= $2500 + $107.5
= $2607.50
Hence, the maturity value of a loan of $2500 at the simple interest rate of 4.3% that is needed to be repaid in 8 months is $2607.50.
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