To determine the slope of the line representing Harrison’s car loan balance over time, we need to calculate the change in the loan balance per month.
The slope of the line is calculated using the formula:
\[ \text{slope} = \frac{\text{change in y}}{\text{change in x}} \]
From the graph, the line passes through the points \((0, 7,000)\) and \((2, 6,500)\). Let's use these points to find the slope.
Change in y (loan balance):
\[ 6,500 - 7,000 = -500 \]
Change in x (months since purchase):
\[ 2 - 0 = 2 \]
Now calculate the slope:
\[ \text{slope} = \frac{-500}{2} = -250 \]
The negative slope indicates that the loan balance is decreasing. This means that Harrison's loan balance decreases by $250 each month.
So, the correct statement is:
- Harrison makes a monthly payment of $250.
The graph represents the balance on Harrison’s car loan in the months since purchasing the car.
A coordinate plane showing Car Loan Payments. The x-axis shows Months since Purchase and the y-axis shows Loan Balance in dollars. There is a straight line that starts at (0, 7,000) and passes through (2, 6,500), (4, 6,000), and (26, 500).
Which statement describes the slope of the line?
The loan balance decreases $500 per month.
Harrison makes a monthly payment of $250.
The loan balance increases $250 per month.
Harrison increases his monthly payment by $500 each month.
1 answer