Find the time it would take to triple an initial deposit of $2,000 at an interest rate of 8%, compounded semi-annually
1 answer:
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Answer:
Step-by-step explanation:
I’m assuming that the equation is to be written in slope intercept form (y=mx+b), so for this, you want to find the slope and y-intercept. To find the slope, use the equation in picture 1.
0 - 5 = -5
1 - 5 = -4
-5 / -4 = 1.25
So m, or the slope, is equal to 1.25.
To find the y-intercept, make a table like the second picture. Choose one of the ordered pairs as the given. I used 1,0.
0,?
1,0
Now find the change in x, which in this case, is 1. Then set up something like picture three.
1.25/1 = ?/1
?=1.25
Now backtrack to get:
0, -1.25
1, 0
Now we know what is y when x is 0, we know the y intercept and can make the equation:
y = 1.25x - 1.25
