Question

Application problem: "The Line Factory" - The Line Factory needs your help! They have decided to design a new logo for their company. They came up with a design but the design clerks need to know the equations for each line so that they can reproduce it perfectly on their computer. Your job is to find the equation of each line.

Approximate the interest rate for a lease that comes with a money factor of 0.0027.
a. 0.65%
b. 1.13%
c. 6.5%
d. 11.25%

Answer 1

The equation of the line for the lease interest rate can be represented as y = 0.27%.

Step-by-step explanation:

The equation of a line can be represented in the form y = mx + b, where m is the slope and b is the y-intercept. In this case, the line represents the lease interest rate, with the money factor given as 0.0027.

1. First, we need to convert the money factor to a percentage by multiplying it by 100. So, 0.0027 * 100 = 0.27%.
2. The slope of the line is zero, indicating no change in the interest rate based on the lease amount.
3. The y-intercept is the initial interest rate without any lease amount, which is 0.27%. So, the equation of the line is y = 0.27%.