If the average daily balance is $294.45 and the finance charge is $5.57 for the month of March, what is the annual interest rate
1 answer:
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Line 1 and Line 4 are parallel lines
Solution:
General equation of a line:
y = mx + c
where m is the slope and c is the y-intercept of the line.
<u>To find the slope of each line:</u>
Line 1:
Slope
Line 2:
Add 7 on both sides, we get
Slope
Line 3:
Slope
Line 4:
Subtract x from both sides, we get
Multiply by on both sides, we get
Slope
<em>Two lines are parallel, if their slopes are equal.</em>
From the above slopes,
Therefore Line 1 and Line 4 are parallel lines.
