the graph represents the balance on harrisons car loan in the months since purchasing the car. which…

the graph represents the balance on harrisons car loan in the months since purchasing the car. 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.

the graph represents the balance on harrisons car loan in the months since purchasing the car. 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.

Answer

Answer:

The loan balance decreases $500 per month.

Explanation:

Step1: Identify two points on line

Let's take (0, 7000) and (26, 0).

Step2: Calculate slope formula

Slope $m=\frac{y_2 - y_1}{x_2 - x_1}$, where $(x_1,y_1)=(0,7000)$ and $(x_2,y_2)=(26,0)$.

Step3: Substitute values

$m=\frac{0 - 7000}{26-0}=\frac{- 7000}{26}\approx - 269.23$ (approximate). But if we consider the pattern visually, in 14 months (from 0 to 14), balance goes from 7000 to 0. The change in balance is $7000 - 0=7000$ and change in months is 14. So slope $m=\frac{0 - 7000}{14}=- 500$. A negative slope means the loan - balance is decreasing by $500 per month.