Find the balance in Grace’s account after 2 years for a principal of $2500 if the bank pays simple interest at a rate of 5.25%.
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Answer:
General Formulas and Concepts:
<u>Pre-Algebra</u>
Order of Operations: BPEMDAS
- Brackets
- Parenthesis
- Exponents
- Multiplication
- Division
- Addition
- Subtraction
- Left to Right<u> </u>
<u>Algebra I</u>
- Reading a Cartesian plane
- Coordinates (x, y)
- Slope Formula:
Step-by-step explanation:
<u>Step 1: Define</u>
<em>Find points from graph.</em>
Point (-5, 0)
Point (-9, -8)
<u>Step 2: Find slope </u><em><u>m</u></em>
Simply plug in the 2 coordinates into the slope formula to find slope<em> m</em>
- Substitute in points [Slope Formula]:
- [Fraction] Subtract/Add:
- [Fraction] Divide: