Question

A) The loan amount is a function of time and can be represented by the line of best fit y = 15, 413 - 1,635x
, where x is the number of years. How much is left on the loan after 9
years? (1 point)
The loan amount is $ after 9 years.

Answer 1

To find out how much is left on the loan after 9 years, we can substitute \( x = 9 \) into the equation of the line of best fit, which is given as:

\[
y = 15,413 - 1,635x
\]

Substituting \( x = 9 \):

\[
y = 15,413 - 1,635(9)
\]

Now calculating \( 1,635 \times 9 \):

\[
1,635 \times 9 = 14,715
\]

Now substituting this back into the equation:

\[
y = 15,413 - 14,715
\]

Now performing the subtraction:

\[
y = 698
\]

Therefore, the amount left on the loan after 9 years is **$698**.