Example 2. Simple interest on $5000 over 4 years is $1800, what is the interest rate? Example 3. If you borrow $1200 at a 5% annual interest rate, how long will it take for the total amount owed to reach $1300? Example 4. Find the principal if the simple interest in 14 days at 25% per annum is 100.
Firstly the equation would be y=7.7x+59 (A)The slope is 7.7 (B) and shows that there is a 7.7 charge per week the person attends. (A)The y intercept is 59 (B) and is the initial fee that the gym charges.
