1. Charlie had taken out a personal loan of 50K in the beginning of the year...

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Advance Math

1. Charlie had taken out a personal loan of 50K in thebeginning of the year with a co-signer. He promised his co-signerthat he could make the money back in no time. He showed hisco-signer the payments he planned to make with interest included.He and the bank agreed that he would pay 11% interest over 48months. This means that the loan will actually amount to $55,500and Charlie is paying $1,156.25 monthly.

a) How would you explain slope and y-intercept? When lookingat a coordinate plane, we read from left to right. Many peopleremember the standard form of an equation being:
Y = mx + b

m represents the slope

And “+b” represents the y-intercept

This is nice. However, how is that useful for us?

What is slope?

What is y-intercept?

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3.5 Ratings (624 Votes)

we can incorporate the straight line equation in multiple waysherea we can plot the amount of money Charlie pays to the bank as afunction of time It starts with 0 at See Answer

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