Because the line is already written in slope-intercept form, we can find the slope and y-intercept just by looking at it.
<u>The slope is 6.</u>
<u>The y-intercept is -12.</u>
Solving for the amount of maturity given that it is compounded monthly for 1 year with an interest of 3%, we have the formula and solution below:
A = P (1+r/n)^rn
A = $5,000 (1.040417)
A =$5202.085
For compounded daily, we have the solution below:
A = $5,000 (1.040443)
A = $5202.215
The difference in amount is shown below:
Difference = $5202.215 - $5202.085
Difference = $0.13
Answer:
ree
Step-by-step explanation:
