Without buying points, a monthly mortgage payment will be $1,250. buying 1 point at closing would reduce the payment to $1,236.
2 answers:
You might be interested in
Answer:
see below for a graph
Step-by-step explanation:
To draw a graph on a grid, locate the point (4, -2) and use the slope to find another point. One such point will be 1 to the left and up 3*, at (3, 1). With two points, you can draw the line through them to complete the graph.
__
For a graphing tool that requires an equation, the point-slope form of the equation can be used:
y -k = m(x -h) . . . . . a line of slope m through point (h, k)
For the given slope and point, the equation of the line is ...
y +2 = -3(x -4)
y = -3x +10
_____
* The slope is "rise" over "run". The slope of -3 means that a <em>run</em> of +1 will result in a <em>rise</em> of -3. The given point is already below the x-axis, so we don't really want to find more points farther down. In order to go up on a line with negative slope, we must choose a point to the left of the given one.
