What is the equation of the line, in point-slope form, that passes through the points (9, 1) and (4, 16)?
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Answer:
Ratio between balances will be:
Where;
x = deposit
%i = interest rate annual
n = years
Step-by-step explanation:
Lets say first deposit is x$ for both investment and annual interest rate for both investment are %i. Also, they stayed under i interest in n years:
Total balance for simple interest is:
How ever total balance for compound interest is: