Find the future value of an ordinary annuity of $80 paid quarterly for 2 years if the interest rate is 7 % compounded quarterly
1 answer:
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Answer:
Slope:
Y intercept: 7
Equation:
Step-by-step explanation:
The slope is found by doing the equation . When looking at the first two points, it's shown that the rise (difference between the two y values) is -3 (since it decreased by 3) and the run (difference between the two x values) is 4 (since it increased by 4).
This gives us a slope of .
The y intercept is found by looking at the y value when x = 0. In this picture, it is clear that it is 7.
The equation you want to use is y = mx + b , where b is the y intercept and m is the slope. Just plug in the numbers and you got your equation!