Henry takes out a $650 discounted loan with a simple interest rate of 12% for a period of 7 months. How much money does Henry re
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Answer:
Step-by-step explanation:
We first need to determine the equation of the line.
Thus, we will need to find our slope first. To do so, we need to pick two points from the line. We can use (0, 5) and (3, 1).
Now, we can use the slope formula. Therefore:
Let (0, 5) be (x₁, y₁) and let (3, 1) be (x₂, y₂). Substitute appropriately:
Therefore, our slope is -4/3.
Now, we can use the slope-intercept form:
Where m is our slope and b is the y-intercept.
We already determined that the slope is -4/3.
And (0, 5) tells us that the y-intercept is 5. Therefore, substitute:
Finally, we need to determine our inequality sign.
Notice that our line is dotted. Hence, we do not need “or equal to.”
Also, the blue shaded region is below our line. Therefore, y must be less than our equation.
Hence, our sign is less than.
Therefore, our equation is: