Question

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?
The loan amount is $___ after 9 years.

Answer 1

To find the remaining loan amount after 9 years using the given line of best fit \( y = 15,413 - 1,635x \), where \( x \) represents the number of years, we can substitute \( x = 9 \) into the equation:

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

First, calculate \( 1,635 \times 9 \):

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

Now, substitute this value back into the equation:

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

Next, perform the subtraction:

\[
y = 15,413 - 14,715 = 698
\]

Therefore, the remaining amount on the loan after 9 years is:

\[
\text{The loan amount is } \$698.
\]