Answer:
The principal amont was $35,000
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
In this problem, we have that:
We want to find P. So
The principal amont was $35,000
According to the question, the line is through the points and
To calculate the slope using standard formula that is :
Now the slope equation will be:
The slope-intercept form is:
What is the equation of the line?
To represent the set of points in an algebraic form is known as the equation of line. The set of points represent lines in the coordinate system. The parameters can be calculated and those parameters are slope and y-intercept.
To learn more about the equation of the line from the given link:
<u>brainly.com/question/14037984</u>
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