Suppose your friend's parents invest $15,000 in an account paying 7% compounded annually. What will the balance be after 6 years
1 answer:
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Step-by-step explanation:
Our coordinates are (6, 0) and (0, -3).
We can use the formula (y₂-y₁)/(x₂-x₁) to find the slope-intercept form (y=mx+b)
Now, we plug the coordinates into the formula and solve.
(0-(-3))/(6-0)
=3/6
=
So, the slope is .
Now, we have to find the y-intercept, which is the point where the line on the graph intersects with the y-axis.
We can find the y-intercept (which is represented by b) by plugging the information we already know into the formula.
We can use either pair of coordinates for the formula, so I'll use (6, 0).
y=mx+b
0=(6)+b
Now, we can solve.
0=3+b
Subtract 3 from both sides.
-3=b
The y-intercept is -3.
Answer:
y=x-3