The slope of a line is -3, and a point on the line is (4,-1). What is the equation of the line expressed in slope-intercept form
1 answer:
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Answer:
$18,781.5
Step-by-step explanation:
According to the problem, calculation of the given data are as follows,
Loan amount (P) = $15,000
Rate of interest (r) = 23%
Time (t) = 5 years
Let this loan is compounding annually, then the amount after 5 years can be calculated as follows,
Final amount = P
by putting the value in formula, we get
= $15,000 (
= $15,000 × 1.2521
= $18,781.5