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?(1 point)
The loan amount is $
after 9 years.

1 answer

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:

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

Substituting \( x = 9 \):

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

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

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

Now, substitute this value back into the equation:

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

Now perform the subtraction:

\[ y = 698 \]

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