Answer:
$1445.11
Step-by-step explanation:
The formula to use would be:
Where
F is the future amount (what we want to find)
P is the present (principal) amount (this is 400)
r is the rate of interest, monthly (1.8% or 0.018)
t is the time in months (6 years = 6 * 12 = 72)
Now substituting, we get:
After 6 years, the CD will be worth $1445.11
Let's find the slope for line t first.
We can use the given points 2,6 and 10,1 to find the slope using the slope formula.
1 - 6 / 10 - 2
-5/8
The slope is -5/8.
Because we know the slope of this line, we can find the slope of the next line instantly, as they are perpendicular.
When a slope is perpendicular to another, it is equal to the negative reciprocal.
Negative reciprocal of -5/8 = 8/5
<h3>The slope of line u is 8/5</h3>