Calculate the average daily balance, finance charge, and new balance using the average daily balance method.
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Answer:
<h2>The graph is in the attachment.</h2>Step-by-step explanation:
The point-slope form of an equation of a line:
<em>m</em><em> - slope</em>
<em>(x₁, y₁)</em><em> - a point on a line</em>
The slope-intercept form of an equation of a line:
<em>m</em><em> - slope</em>
<em>b</em><em> - y-intercept → (0, b)</em>
We have the equation in a point-slope form:
Therefore we have one point: <em>(4, -7)</em><em>.</em>
<em>Convert to the slope-intercept form:</em>
<em>use the distributive property</em>
<em>subtract 7 from both sides</em>
Put <em>x = -1</em><em> </em>to the equation:
Therefore we have the second point <em>(-1, -3)</em>.
