Answer:
The equation of any straight line, called a linear equation, can be written as: y = mx + b, where m is the slope of the line and b is the y-intercept. The y-intercept of this line is the value of y at the point where the line crosses the y axis.
The formula to find the amount is
Here A = amount
P is the principal
r is the rate
n is the number of years
Then to find the interest we subtract principal from amount.
Interest = A - P
Here
P= 2200, r = 3% = 0.03 , n = 6 years
Hence the interest earned = 2626.92-2200 = $426.92
Now if the total of $2200 was deposited in three banks then each account earns
Each account earns $142.31