Question

Michael wants to buy an efficient Smart car that according to the latest EPA standards gets 33 mpg in the city and 40 mpg on the highway. The car that Michael picked out costs $18,560. His dad agreed to purchase the car if Michael would pay it off in equal monthly payments for the next 64 months. The equation y= - 290x +18,560 represents the amount, y
(in dollars), that Michael owes his father after x months.

(a) How much does Michael owe his dad after 3 months?

(b) Determine the slope of the line and interpret its meaning in the context of this problem.

(c) Interpret the meaning of the slope in the context of this problem.


The amount Michael owes his father increases or decreases by ___ per month.

Answer 1

Answer:

17690

Step-by-step explanation:

The amount Michael owes is given by :

y = - 290x +18,560

x = number of months ; y = amount owed

Amount owed after 3 months :

Put x = 3 in the equation :

y= - 290(3) +18,560

y = - 870 + 18560

y = 17690

According to the general form of a linear equation :

y = mx + c

Where, m = slope ; c = intercept

The slope = - 290 ; Intercept = 18560

Slope is the change in y per unit change in x ; The slope means that amount owed, y decreases by 290 per month

The intercept shows that the original amount borrowed is 18560

Amount Michael owes his father decreases by 290 per month.