Answer:
5
Step-by-step explanation:
You borrow $2000 from the bank at 1% annual interest compounded monthly. The monthly payment is $100. What is the balance after
1 answer:
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Let's start by tidying up that equation and put it into slope-intercept form (y = mx + b); from there, we can plug in coordinates.
Let's use the distributive property on the right side:
Now add 4 to both sides
Which simplifies to:
Since that's the equation of our line, now we can plug in coordinates and see what it churns out.
We know that the x-coordinate of P = 4 so let's substitute 4 in for x and calculate the y-coordinate:
So the y-coordinate for point P = 10
Let's use the distributive property on the right side:
Now add 4 to both sides
Which simplifies to:
Since that's the equation of our line, now we can plug in coordinates and see what it churns out.
We know that the x-coordinate of P = 4 so let's substitute 4 in for x and calculate the y-coordinate:
So the y-coordinate for point P = 10