you have $5000 toward the purchase of a small boat that will cost $6000. how long will it take the $5000 to grow to $6000 if it is invested at 5% compounded monthly? solve algebraically. round to the nearest hundredth.

Answers

Answer 1
To solve this problem, we can use the formula for compound interest:

A = P(1 + r/n)^(nt)

where:
A = the amount of money after t years
P = the principal amount (the initial investment)
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the number of years

We know that P = $5000, A = $6000, r = 0.05 (5%), and n = 12 (since interest is compounded monthly). We can solve for t algebraically:

A = P(1 + r/n)^(nt)
$6000 = $5000(1 + 0.05/12)^(12t)
$6000/$5000 = (1 + 0.05/12)^(12t)
1.2 = (1.004167)^(12t)
log(1.2) = log(1.004167)^(12t)
log(1.2) = 12t * log(1.004167)
t = log(1.2) / (12 * log(1.004167))
t ≈ 5.93

Therefore, it will take about 5.93 years (or about 71 months) for the $5000 to grow to $6000 if it is invested at 5% compounded monthly.
Answer 2
We can use the formula for compound interest to solve this problem:

A = P(1 + r/n)^(nt)

where:
A = the amount of money in the account after t years
P = the principal amount (the initial investment)
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the number of years

In this case, we want to find the time it takes for an investment of $5000 to grow to $6000 at an annual rate of 5% compounded monthly. So we have:

P = $5000
A = $6000
r = 0.05 (5% annual interest rate)
n = 12 (compounded monthly)

We want to solve for t, the number of years. So we can rearrange the formula to solve for t:

t = (log(A/P)) / (n * log(1 + r/n))

Substituting the values we have:

t = (log(6000/5000)) / (12 * log(1 + 0.05/12))

Simplifying:

t = 3.66 years (rounded to two decimal places)

Therefore, it will take approximately 3.66 years (or about 44 months) for an investment of $5000 to grow to $6000 at an annual rate of 5% compounded monthly.

Related Questions

If a scatter plot has a pattern that is best fit by y=x2, we say that it has a property that displays a linear or a nonlinear pattern?​

Answers

The scatter plot that has a pattern that is best fit by y = x^2 has a property that displays a nonlinear pattern

Describing the property of the scatter plot

From the question, we have the following parameters that can be used in our computation:

Equation of the best fit of the scatter plot: y = x^2

As a general rule

Any equation that has a degree other than 1 is a non linear equation

This means that the property it displays is a nonlinear pattern

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the angle of elevation from the horizontal to the sun is 38°. How long of a shadow would a 32 foot tree make at this time?

Answers

The length of the shadow would be approximately 41.7 feet if the angle of elevation from the horizontal to the sun is 38° at this time.

If the angle of elevation from the horizontal to the sun is 38°, then the tangent of that angle is equal to the opposite side (the height of the tree) divided by the adjacent side (the length of the shadow).

Therefore, we can set up the equation using trigonometric function tangent as,
tan(38°) = height of tree / length of shadow

Solving for the length of the shadow, we get:
length of shadow = height of tree / tan(38°)

Plugging in the given height of the tree (32 feet) and using a calculator to find the tangent of 38°, we get:
length of shadow = 32 / tan(38°) = 41.7 feet (rounded to one decimal place)

Therefore, the length of the shadow would be approximately 41.7 feet at this time.

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In a different plan for area codes, the first digit could be any number from 1 through 7, the second digit was either 3, 4, 5, 6, and the third digit could be any number except 6, 7, or 8. With this plan, how many different area codes are possible?

Answers

Answer:

196

Step-by-step explanation:

There are 7 choices for the first spot.

4 choices for the second spot. And 7 choices for the third spot, which cannot be 6,7,8--so it can be 0,1,2,3,4,5 or 9 (7choices)

7 × 4 × 7 is 196

There are 196 possibilities for the three digit area code with this plan.

Write the following number in standard decimal form. one and ninety-six ten-thousandths 0 X​

Answers

The number "one and ninety-six ten-thousandths" can be written as 1.00096 in standard decimal form.

Please answer quickly!!! I'll give BRAINLIEST!!!!! I attached the picture.

Answers

Answer: No.

Step-by-step explanation:

The graph doesn't represent a linear, exponential, or quadratic function.

An example of a linear function is a straight line.

An example of a quadratic function is like a smile.

An example of an exponential function is a curved line.

So hence, this doesn't represent a function.

Reply below if you have any questions of concerns.

You're welcome!

- Nerdworm

how do i find the area of this shape?​

Answers

Answer:

(1/2)(12)(16) + (1/2)π(6^2)

= (96 + 18π) square cm

= about 152.55 square cm

Find the area of the following figure:

Answers

Answer: 61,6 in.

Step-by-step explanation:

To find the area of trapezoids with parallel bases, we add the length of the lower base to the length of the upper base.

[tex]12+10=22[/tex]

Then we multiply this value by the height.

[tex](5.6).22=123.2[/tex]

Finally, we divide the resulting value by [tex]2[/tex].

[tex]123.2/2=61.6[/tex]

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Savvas Realize
8-6: MathXL for School: Practice & Problem Solving
★ Start Page
0 Assignment is past due (
The circumference of the hub cap of a tire is 83.90 centimeters. Find the area of this hub cap. Use 3.14 for x. Use pencil and paper. If the circumference
were smaller, explain how this would change the area of the hub cap.
The area of this hub cap is about 560 square centimeters.
(Round the final answer to the nearest whole number as needed. Round all intermediate values to the nearest thousandth as needed.)

Answers

It can be seen that if the circumference were smaller, the area would decrease, as it is proportional to the square of the radius.

How to solve

Given the circumference (C) of the hub cap as 83.90 cm, we can find the radius (r) using the formula C = 2 * π * r,

where π = 3.14.

Thus, r ≈ 13.363 cm.

To find the area (A), use the formula A = π * r^2, yielding A ≈ 560.509 cm². Rounded, the area is about 561 cm².

Therefore, it can be seen that if the circumference were smaller, the area would decrease, as it is proportional to the square of the radius.

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Wayne will toss a coin once and record eacthe toss as H for heads or T for tails.
Then he will randomly pick a card from a box that contains three cards numbered
1, 2, and 3, and he will record the number chosen. List all of the outcomes for the
event that the coin toss is tails.

Answers

Answer:

Step-by-step explanation:

The possible outcomes for the coin toss being tails and the card chosen being 1, 2, or 3 are:

-T1

-T2

-T3

Therefore, there are three possible outcomes for the event that the coin toss is tails.

Find the area of parallelogram WXYZ. Round your answer to the nearest tenth if
necessary.
21 in
18 in
21 in
23.2 in
23.2 in

Answers

Answer:

378in^2 i think

Step-by-step explanation:

NO LINKS!!! URGENT HELP PLEASE!!

Edward opens a savings account with $250. The bank gives him an interest rate of 2.8% per year (simple interest). About how long will it take Edward to double his money? (SHOW WORK!!)

Equation: ___________________

Answer: __________________

Answers

Answer:

Equation:  250(1 + 0.028t) = 500

Answer:  36 years

Step-by-step explanation:

The equation we can use to solve this problem is the simple interest formula:

[tex]\boxed{A = P (1 + rt)}[/tex]

where:

A is the amount of money in the account after t years.P is the principal (initial amount).r is the interest rate per year (as a decimal).t is the time in years.

Given the initial investment is $250 at an interest rate of 2.8%, and Edward wants to double his money:

A = $500P = $250r = 0.028

Substite these values into the equation:

[tex]500=250(1+0.028t)[/tex]

Swap sides:

[tex]250(1+0.028t)=500[/tex]

Now solve for t:

[tex]\implies \dfrac{250(1+0.028t)}{250}=\dfrac{500}{250}[/tex]

[tex]\implies 1+0.028t=2[/tex]

[tex]\implies 1+0.028t-1=2-1[/tex]

[tex]\implies 0.028t=1[/tex]

[tex]\implies \dfrac{0.028t}{0.028}=\dfrac{1}{0.028}[/tex]

[tex]\implies t=35.71428571...[/tex]

Assuming the interest is applied annually on the anniversary of the account opening, it will take Edward 36 years to double his money with a 2.8% simple interest rate.

Ms. Shaddai writes 3q = 51 and \{15, 16, 17\} on the board. Tell if each value in the set is a solution of the equation. Show your work.

Answers

Only 17 is a solution of the equation 3q = 51 among the values in the set {15, 16, 17}.

How to find out  if each value in the set is a solution of the equation?

To check if a value is a solution of the equation 3q = 51, we substitute the value for q and check if the equation is true.

Let's check each value in the set {15, 16, 17}:

For q = 15, 3q = 3(15) = 45, which is not equal to 51. Therefore, 15 is not a solution of the equation 3q = 51.

For q = 16, 3q = 3(16) = 48, which is not equal to 51. Therefore, 16 is not a solution of the equation 3q = 51.

For q = 17, 3q = 3(17) = 51, which is equal to 51. Therefore, 17 is a solution of the equation 3q = 51.

Therefore, only 17 is a solution of the equation 3q = 51 among the values in the set {15, 16, 17}.

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15 postcards, 10 envelopes, and a notepad cost 1 dollar and 68 cents. The envelope is 8 times cheaper than the notepad and 2 cents more expensive than the postcard. What is the price of the postcard, the envelope, and the notepad?

Answers

Let's start by setting up some equations to represent the given information.

Let's say the price of a postcard is "x" cents.

Then, according to the problem statement, the price of an envelope is 8 times cheaper than the notepad, which means the price of an envelope is (1/8)th of the price of the notepad. So the price of an envelope is (1/8)*y cents, where "y" is the price of the notepad in cents.

Also, we know that the price of an envelope is 2 cents more expensive than the price of a postcard, so we can write:

(1/8)*y = x + 2 ...(Equation 1)

We also know that there are 15 postcards and 10 envelopes in the purchase, so the total cost of the postcards and envelopes is:

15x + 10[(1/8)*y] ...(Equation 2)

Finally, we have a notepad that costs "y" cents. So the total cost of the purchase is:

15x + 10[(1/8)*y] + y ...(Equation 3)

We are given that the total cost of the purchase is 1 dollar and 68 cents, which is equal to 168 cents. So we can write:

15x + 10[(1/8)*y] + y = 168 ...(Equation 4)

Now we have four equations (Equation 1, Equation 2, Equation 3, and Equation 4) with three variables (x, y, and 168). We can solve for x and y by using a system of equations.

From Equation 1, we can solve for y in terms of x:

(1/8)*y = x + 2

y = 8x + 16

Substituting this expression for y into Equations 2 and 3, we get:

15x + 10[(1/8)*y] = 15x + 10(8x + 16) = 160x + 160

15x + 10[(1/8)*y] + y = 15x + 8x + 16 = 23x + 16

Substituting these expressions into Equation 4, we get:

23x + 16 = 168

Solving for x, we get:

x = 6

Substituting this value for x into Equation 1, we can solve for y:

(1/8)*y = x + 2 = 6 + 2 = 8

y = 64

So the price of a postcard is 6 cents, the price of an envelope is (1/8)*64 + 2 = 10 cents, and the price of a notepad is 64 cents

A police car is located 40 feet to the side of a straight road.

A red car is driving along the road in the direction of the police car and is 140 feet up the road from the location of the police car. The police radar reads that the distance between the police car and the red car is decreasing at a rate of 85 feet per second. How fast is the red car actually traveling along the road?

The actual speed (along the road) of the red car is feet per second

Answers

The actual speed (along the road) of the red car is 8.37 feet per second

To solve this problem

Let's call the distance between the police car and the red car "x" at time t. Then, we know that:

x^2 = 40^2 + (140 - vt)^2

Where

v is the velocity of the red car (in feet per second) t is time

We are given that dx/dt (the rate at which x is decreasing) is -85 ft/s, so:

d/dt [x^2] = d/dt [40^2 + (140 - vt)^2]

2x(dx/dt) = 0 - 2v(140 - vt)

Substituting dx/dt = -85 and solving for v, we get:

2x(−85) = −2v(140−vt)

−170x = −280v + 2v^2t

v^2t = 140v - (85/2)x

Now, we can differentiate the equation x^2 = 40^2 + (140 - vt)^2 with respect to time to get:

2x(dx/dt) = 2(140 - vt)(-v)

Substituting dx/dt = -85 and solving for x, we get:

-170x = -2v(140 - vt)

x = (140v - vt^2)/85

Substituting this expression for x into the equation we derived earlier, we get:

v^2t = 140v - (85/2)((140v - vt^2)/85)

v^2t = 140v - 70(2v - t^2)

v^2t = 140v - 140v + 70t^2

v^2t = 70t^2

v = sqrt(70t^2)/t = sqrt(70) = 8.37 ft/s (rounded to two decimal places)

Therefore, the actual speed (along the road) of the red car is 8.37 feet per second

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A landscape architect is designing a pool that has this top view. How much water will be needed to fill this pool 4 feet deep?​

Answers

The amount(volume) of water that will be needed to fill the pool is 144 ft³.

What is volume?

Volume is the space occupied by a solid shape.

To calculate the amount(volume) of water that will be needed to fill the pool, we use the formula below

Formula:

V = H(LW-l²)........................ Equation 1

Where:

V = Volume of the water needed to fill the poolH = Height of the pool

From the diagram in the question,

Given:

H = 4 ftL = 8 ftW = 5 ftl = 2 ft

Substitute these values into equation 1

V = 4[(8×5)-(2²)]V = 4(40-4)V = 144 ft³

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This diagram shows a cube. Each edge of the cube is 13 units long. The diagonal of each face is x units long. The diagonal of the cube is y units long.


Find x and y. If necessary, round your answers to the nearest tenth.

Answers

The value of x is 18.4 and the value of y is 22.5 in the cube

Finding the values of x and y

From the question, we have the following parameters that can be used in our computation:

The diagram of a cube.

Each edge of the cube = 13 units.

The diagonal of each face is x units long

So, we have

x^2 = 13^2 + 13^2

Evaluate

x = 18.4

The diagonal of the cube is y units long.

So, we have

y^2 = 13^2 + 13^2 + 13^2

Evaluate

y = 22.5

Hence, the value of x is 18.4 and the value of y is 22.5


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Carmine takes a loan for $11,500 at a rate of 8% that is compounded quarterly. Assuming she makes no payments for the first 2 years, what is her loan balance?

Answers

Carmine's loan balance after two years would be approximately $13,827.72.

Define the term loan?

In mathematics, the term "loan" typically refers to a sum of money that is borrowed by one party from another with the agreement to repay it with interest over time. Loans are a common financial concept used in various areas of mathematics, such as finance, economics, and business.

What does compounded quarterly means?

"Compounded quarterly" refers to a method of calculating interest or investment growth where the interest is added to the principal and then reinvested or recalculated at the end of each quarter (every three months) within a given time period.

To calculate Carmine's loan balance after two years, we need to use the compound interest formula, which is given by:

A = P ×[tex](1+r/n)^{nt}[/tex]

Where:

A = the loan balance after t years

P = the initial principal amount (loan amount) = $11,500

r = annual interest rate = 8% or 0.08 (expressed as a decimal)

n = number of times interest is compounded per year = 4 (since it is compounded quarterly)

t = time in years = 2 (since Carmine made no payments for the first two years)

Putting the values into the formula, we get:

A = 11,500 × (1 + 0.08/4)⁸

A = 11,500 × (1 + 0.02)⁸

A = 11,500 × (1.02)⁸

A ≈ $13,827.72

So, Carmine's loan balance after two years would be approximately $13,827.72.

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In January, the amount of snowfall was 5 2/3 feet. In February, the amount of snowfall was 3 1/5 feet. What was the amount of snowfall in the two months combined? Write your answer as a mixed number in simplest form.

Answers

Answer:

8 13/15

Step-by-step explanation:

Multiply the fractions so they both have the least common denominator:

5 2/3 = 5 10/15

3 1/5 = 3 3/15

Now, you can add the two mixed numbers:

[tex]5 \frac{10}{15} + 3 \frac{3}{15} = 8 \frac{13}{15}[/tex]

This is your final answer.

The histogram below gives the distribution of test scores for a sample of
students in a school in Alaska. Approximately how many students received a
score between 70.5 and 80?

Answers

Answer:

B. 200 students

Step-by-step explanation:

it takes 2/3 of a gallon of paint to cover 3/4 of a wall. How many gallons of paint are needed to cover a full wall?

Answers

We can start by using a proportion to find the amount of paint needed to cover a full wall:

(2/3 gallons) / (3/4 of a wall) = (x gallons) / (1 full wall)

To solve for x, we can cross-multiply and simplify:

(2/3) / (3/4) = x / 1

2/3 * 4/3 = x

8/9 = x

Therefore, it takes 8/9 of a gallon of paint to cover a full wall.


What is the concentration of H+ ions at a pH = 7?
mol/L
What is the concentration of OH-ions at a pH=7?
mol/L
What is the ratio of H* ions to OH-ions at a pH = 7?
:1

Answers

The concentration of H⁺ ions at a pH of 7 is 1 x 10⁻⁷ M.

What is the concentration of the ion?

Ion concentration refers to the amount of ions that are present in a solution or a medium, expressed in terms of their concentration.

The concentration of ion with pH of 7 is calculated as follows;

pH = -log[H⁺]

[H⁺] = 10^(-pH)

The given pH = 7, so the ion concentration is calculated as;

[H⁺] = 10⁻⁷

[H⁺]  = 1 x 10⁻⁷ M

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Calculus derivatives. Find f(x).

Answers

The solution equates to f(x) = 6x + 8.

How to explain the function

Reiterating the same statement without reiteration, it is observed that f'(x) equals ƒ""(x), ultimately resulting in a value of 6. Subsequently, we can derive a complete expression for f(x) where C represents an integration constant.

It should be noted that to find this constant, since f(-1) = 2, plugging in x as -1 and f(x) as 2 into the above equation results in:

2 = 6(-1) + C

C = 8

As such, we can confirm that the entire expression of f(x) is simply 6 times x added to 8. Validating this answer, when assessing f(0) or f(1) , either result should match the given values from our initial problem which they do. Hence, the solution equates to:

f(x) = 6x + 8.

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Need help with this problem

Answers

The sales tax on 250 dollars purchase is: $3865

How to find the equation model?

We are told that sales tax is directly proportional to retail price. Thus:

S ∝ p

Any item that sells for 158 dollars has a sales tax of 10.22 dollars. Thus:

158 = 10.22k

where k is constant of proportionality

Thus:

k = 158/10.22

k = 15.46

Thus, the equation is:

S = 15.46p

Sales tax on 250 dollars purchase is:

S = 15.46 * 250

S = $3865

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Find the equation of a line parallel to 5x+y=5 that passes through the point (8,-9)

Answers

Answer:

y = -5x + 31

Step-by-step explanation:

To find the equation of a line parallel to the line 5x + y = 5, we first need to rearrange it in slope-intercept form, which is

y = -5x + 5. (We see that the slope of this line is -5)

A line parallel to this line will have the same slope of -5. Now, we need to find the equation of a line that passes through the point (8,-9) with slope -5.

We can use the point-slope form of the line to find the equation. The point-slope form of a line is given by y - y1 = m(x - x1), where (x1, y1) is a point on the line and m is the slope of the line.

Substituting the values we have, we get:

y - (-9) = -5(x - 8)

Simplifying this equation, we get:

y + 9 = -5x + 40

y = -5x + 31

Therefore, the equation of the line parallel to 5x + y = 5 that passes through the point (8, -9) is y = -5x + 31.


Calculate the area of the composite figure shown

Answers

The total area of the given figure is 525 cm² respectively.

What is the area?

The area is the entire amount of space occupied by a flat (2-D) surface or an object's shape.

The area of a plane figure is the area that its perimeter encloses.

The quantity of unit squares that cover a closed figure's surface is its area.

So, first, we will divide the figure into 2 parts which will be the triangle and the rectangle, and then add their area to get the total area as follows:

Triangle:

1/2 * b * h

1/2 * 15 * 20

15 * 10

150 cm²

Rectangle:

l*b

15*25

375 cm²

The total area of the figure: 375 + 150 = 525 cm²

Therefore, the total area of the given figure is 525 cm² respectively.

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What is the area of a right triangle with a height of 6 1/4 yards and base of 22 yards

Answers

Answer:

The area should be 0.5 * b * h

Step-by-step explanation:

B stands for the base of the triangle and H is the height

Find the x-intercept and y-intercept of this equation.

y = 4x + 7

Question 10 options:

x-intercept (4,0), y-intercept (0,7)


x-intercept (-7,0), y-intercept (0,-4)


x-intercept (7/4, 0), y-intercept (0,-4/7)


x-intercept (-7/4, 0), y-intercept (0,7)

Answers

The intercepts of the equation are: D. D. x-intercept (-7/4, 0), y-intercept (0,7).

What is the X-intercept and Y-intercept of a Linear Equation?

The x-intercept of an equation is simply the value of x when the corresponding value of y equals zero. Also, this is where the line of the equation cuts across the x-axis on a graph.

The y-intercept of an equation, on the other hand, is the value of y when the corresponding value of x equals zero. It is the point where the line of the equation cuts across the y-axis on a graph.

Thus, given the equation y = 4x + 7, the y-intercept is:

y = 4(0) + 7

y = 7

The x-intercept is:

0 = 4x + 7

-4x = 7

x = 7/-4

x = -7/4

The correct option is: D. x-intercept (-7/4, 0), y-intercept (0,7).

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An air traffic controller is tracking two planes. To start, Plane A is at altitude of 2639 feet and Plane B is just taking off. Plane A is gaining altitude at 35.25 feet per second and Plane B is gaining altitude at 80.75 feet per second
How many seconds will pass before the planes are at the same altitude?
What will their altitude be when they're at the same altitude?

Answers

Answer:

Step-by-step explanation:

To find the number of seconds it will take for the planes to be at the same altitude, we need to set the altitude equations for both planes equal to each other and solve for time:

2639 + 35.25t = h    (altitude equation for Plane A)

0 + 80.75t = h       (altitude equation for Plane B)

where h is the altitude of both planes when they are at the same altitude, and t is the number of seconds that have passed.

Setting the two equations equal to each other and solving for t, we get:

2639 + 35.25t = 80.75t

45.5t = 2639

t = 58

Therefore, it will take 58 seconds for the planes to be at the same altitude.

To find their altitude at that time, we can substitute t = 58 into either of the altitude equations and solve for h:

2639 + 35.25t = h

2639 + 35.25(58) = h

h = 4818.5

Therefore, when the planes are at the same altitude, their altitude will be approximately 4818.5 feet.

y = -x + 10 y = -x + 12

Answers

The solution to the given simultaneous equation y = -x + 10 ; y = -x + 12 is zero.

How to solve simultaneous equation?

y = -x + 10

y = -x + 12

Subtract both equations

y - y = -x -(-x) + 10 -12

0 = -x + x - 2

0 = 0 - 2

0 = -2

In conclusion, zero is the solution to the equation

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A scatter plot is shown on a coordinate plane. The x-axis is numbered 0 to 15 and the y-axis is numbered from 2 to 26 in increments of 2. Points shown are located at (7, 2), (9, 1), (11, 3), (7, 6), (5, 8), (8.5, 8), (3, 12), (6, 13), and (4, 16). A line of best fit goes through points (5, 12) and (9, 4) and is extended to show it approaching the points (0, 22) and (11, 0).
Which equation represents the line of best fit?

Answers

The equation represents the line of best fit is y = -2x + 22.

What is an equation?

A mathematical statement that represents a relationship between two or more quantities is typically expressed using symbols, numbers, and mathematical operations. Equations are used to express mathematical relationships, make predictions, and solve problems. An equation typically consists of an expression on each side of an equal sign (=), indicating that the values on both sides are equivalent.

According to the given information:

To determine the equation of the line of best fit in the scatter plot, we can use the slope-intercept form of a linear equation, which is given by:

y = mx + b

where m is the slope and b is the y-intercept.

Given that the line of best fit goes through points (5, 12) and (9, 4), we can calculate the slope (m) using the formula:

m = [tex]\frac{(y_{2}-y_{1})}{(x_{2}-x_{1} ) }[/tex]

Plugging in the values from the given points, we get:

m = [tex]\frac{(4-12)}{(9-5)}[/tex]

m = -8 / 4

m = -2

So, the slope of the line of best fit is -2.

Next, we can substitute the slope and one of the given points (5, 12) into the slope-intercept form to solve for the y-intercept (b):

12 = -2(5) + b

12 = -10 + b

b = 12 + 10

b = 22

So, the y-intercept of the line of best fit is 22.

Thus, the equation of the line of best fit is:

y = -2x + 22.

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