Answer:
8/7, 8/7
Step-by-step explanation:
Answer:
The equation of a line in the slope-intercept form is:
y = 5x - 18
The slope-intercept form of the line equation
where
m is the slope
b is the y-intercept
In our case, we are given
m = 5
Point (4, 2)
now substituting m = 5 and (4, 2) in the slope-intercept form of the line equation to determine the y-intercept
y = mx + b
2 = 5(4) + b
20 + b = 2
subtract 20 from both side
20 + b - 20 = 2 - 20
b = -18
now substituting b = -18 and m = 5 in the slope-intercept form of the line equation
y = mx + b
y = 5x + (-18)
y = 5x - 18
Therefore, the equation of a line in the slope-intercept form is:
y = 5x - 18
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The formula for finding present value of an ordinary annuity is:
, where P - money to be deposited, i - interest rate, n - number of payments.
So in this case, P = 35000, i = 6 / 100 = 0.06, n = 20.
Now, we have everything needed to determine how much money must be deposited:
So the answer is
$401,447.24.