Sharon borrowed $750 at 12% for one year. She paid a $20 processing fee. How much will she pay in interest?
1 answer:
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Answer:
- slope = 3/2
- y-intercept = 3
- x-intercept = -2
Step-by-step explanation:
The slope is the coefficient of x when the equation is of the form ...
y = (something).
Here, we can put the equation in that form by subtracting 12x and dividing by the coefficient of y:
12x -8y = -24 . . . . . given
-8y = -12x -24 . . . . .subtract 12x
y = 3/2x +3 . . . . . . . divide by -8
This is the "slope-intercept" form of the equation. Generically, it is written ...
y = mx + b . . . . . . where m is the slope and b is the y-intercept
So, the above equation answers two of your questions:
slope = 3/2
y-intercept = 3
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The x-intercept is found fairly easily from the original equation by setting y=0:
12x = -24
x = -24/12 = -2 . . . . . the x-intercept
_____
A graph of the equation can also show you these things. The graph shows a rise of 3 units for a run of 2, so the slope is rise/run = 3/2. The line crosses the axes at x=-2 and y=3, the intercepts.
