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?

Answer 1

To find out how much is left on the loan after 9 years using the equation of the line of best fit \( y = 15,413 - 1,635x \), we can substitute \( x \) with 9.

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

Now we calculate \( 1,635 \times 9 \):

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

Now we substitute this value back into the equation:

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

Now, we perform the subtraction:

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

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