Answer:
Step-by-step explanation:
we know that
The tangency point on the x-axis is (r,0)
The tangency point on the y-axis is (0,r)
Find the slope of the line containing the points of tangency
Remember that the equation of the line into slope intercept form is equal to
where
m is the slope
b is the y-coordinate of the y-intercept
In this problem we have
substitute
The final amount in the account after 25 years is $24670.42.
<h3>How do you calculate the final Amount after 25 Years?</h3>Given that 3400 dollars are placed in an account with an annual interest rate of 8.25% for 25 years.
The final amount in the account is calculated by the formula given below.
Where A is the final amount, P is the initial principal balance, R is the interest rate, T is the time period.
The final amount is given below.
Hence we can conclude that the final amount in the account after 25 years is $24670.42.
To know more about the compound interest, follow the link given below.
brainly.com/question/25857212.