If the simple interest on 7000$ for 8 years is 3920$, then what is the interest rate?
2 answers:
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Answer:
see the explanation
The graph in the attached figure
Step-by-step explanation:
we have
This is a linear equation (the graph is a line)
The y-intercept is the point (0,4) ---> value of y when the value of x is equal to zero)
The x-intercept is the point (-4/3,0) ---> value of x when the value of y is equal to zero)
The slope is m=3
If the slope is changed to m=1/3
we have
This is a linear equation too (the graph is a line)
The y-intercept is the point (0,4) ---> is the same
The x-intercept is the point (-12,0) ---> the x-intercept is different
The slope is m=1/3
The second line becomes a lot less steep
Remember that the slope is the ratio between the rise and the run
In the first line the ratio rise/run is 4/1
In the second line the ratio rise/run is 1/3
see the attached figure to better understand the problem
