Kwame borrowed 300 Ghana cedis from a finance company. He repaid the loan in six equal installment 55 Ghana cedis. How much interest did he pay.

The amount he paid for interest is: 30 cedis.

Using this formula

Interest amount=Amount paid to bank -Loan amount

Where:

Amount paid to bank=55 cedis× 6=330 cedis

Loan amount=300 cedis

Let plug in the formula

Interest amount=330 cedis-300 cedis

Interest amount=30 cedis

Inconclusion the amount he paid for interest is: 30 cedis.

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The amount of interest, he payed is 30 Ghana Cedis

Step-by-step explanation:

The amount Kwame borrowed from the finance company, P = 300 Ghana Cedis

The amount he repaid in each installment, M = 55 Ghana Cedis

The number of installments with which he repaid the loan, n = 6 installments

The amount of interest, "i", he payed, is given by the following formula;

The amount of interest, he payed, i = M × n - P

Therefore, i = 55 × 6 - 300 = 30

The amount of interest, he payed = i = 30 Ghana Cedis.

Locate the ordered pair (0,6). From that point on the graph, move up 2, right 1 to locate the next ordered pair on the line.

Step-by-step explanation:

we know that

The equation of the line in slope intercept form is equal to

where

m is the slope

b is the y-intercept

In this problem we have

so

To graph the function we need minimum two points

we have the y-intercept (0,6)

Find another point

Remember that the formula of slope is "rise over run", where the "rise" (means change in y, up or down) and the "run" (means change in x, left or right)

using the slope

From the point (0,6), count right 1 unit and up 2 units and determine a second point.

so

(0+1,6+2)

(1,8)

Plot the points (0,6) and (1,8) and join them to graph the line