Answer: y= - 4x+18
Step-by-step explanation:
Equation: y=mx+b
***remember: b is the y-intercept and m is the slope.
m=
3= x1
2= x2
6= y1
10=y2
m==
= -4
m=-4
Now we have y=-4x+b , so let's find b.
You can use either (x,y) such as (3,6) or (2,10) point you want..the answer will be the same:
(3,6). y=mx+b or 6=-4 × 3+b, or solving for b: b=6-(-4)(3). b=18.
(2,10). y=mx+b or 10=-4 × 2+b, or solving for b: b=10-(-4)(2). b=18.
Equation of the line: y=-4x+18
Answer:
Monthly payments=$418.14
Total amount will be=down payment + 48×$418.14
$14000+$20070.84=$34070.84
Step-by-step explanation:
Loan payment per month=Amount to pay÷discount factor
Mathematically P=A÷D
where D is the discount factor calculated using the formula;
where i=periodic interest rate=annual rate divided by number of payment periods
A is the amount to pay after downpayment
P is the loan monthly payment amount
n=number of periodic payments=payments per year times number of years
⇒In this question you find the discount factor then divide the amount remaining to pay with the discount factor to get monthly payments
Given;
Cost of boat=$32000
Down payment=$14000
Loan to pay=$32000-$14000=$18000
Annual rate=5.5%=i=5.5%÷12=0.458%⇒0.00458
Periodic payments, n=4×12=48
Finding the discount factor D;
To get the amount to pay monthly divide the loan to pay with the discount factor
Monthly payments=$418.14
Total amount will be=down payment + 48×$418.14
$14000+$20070.84=$34070.84