Answer: OPTION A
Step-by-step explanation:
The equation of the line in slope-intercept form is:
Where m is the slope and b the y-intercept.
Solve for y from each equation:
As you can see the slope and the y-intercept of each equation are equal, this means that both are the exact same line. Therefore, you can conclude that the system has infinitely many solutions.
<u>Answer:</u>
The present value of 10,000 if interest is paid at a rate of 6.2% compounded weekly for 8 years is 6097.56
<u>Explanation:</u>
We know that compound interest is given by
Where ,
Where A = final amount (which is given to be = 10000)
P = Principal amount (which is the present amount which we have to find)
r = interest rate = 6.2 = 0.062
n = no. of times interest applied per time period = it is given that the interest is applied weekly, so in one year there are 52 weeks so n = 52
t = time period = 8 years
Substituting the given values, we get
P = 6097.5
We get, P = 6097.56 which is the present value of a sum of money