Find the total amount in the compound interest account 1000 is compounded annually at a rate of 11% for 7 years round to the nea
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<h2>Answer:</h2>
First, we must determine the slope, then we find the y-intercept using slope formula and slope-intercept form.
<u>For slope:</u>
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Slope (m) = 7
<u>For y-intercept:</u>
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Y-intercept (b) = 26
Using this information, we can now create the equations for this line.
Formulas:
Slope formula: <em>y₂ - y₁/x₂ - x₁</em>
Slope-intercept form: <em>y = mx + b</em>
Point-slope form: <em>y - y₁ = m(x - x₁)</em>
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*Note: (x₁, y₁), (x₂, y₂) = <em>2 points on the line</em>