Answer:
Slope= 3/5
y-intercept= -3
Step-by-step explanation:
Answer:
FV= $3,725.07
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $3,294
Number of periods (n)= 5 years
Interest rate (i)= 2.6% = 0.026
<u>To calculate the future value (FV), we need to use the following formula:</u>
FV= PV*(1+i)^n
FV= 3,294*(1.026^5)
FV= $3,725.07