There should be a point the line is going through, (1,2).
We have given that,
N55.60 for 1yr 6 months at the rate of 2%
We have to determine the principal which will yield simple interest of N55.60 for 1yr 6 months at the rate of 2%.
[tex]A = P (1 + rt)[/tex]
A = final amount
P = initial principal balance
r = annual interest rate
t = time (in years)
x = inches
y = miles
per 1 inch = 2 miles
so on the graph, there should be a point the line is going through, (1,2).
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