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 $500 each month. car loan payments loan balance ($) months since purchase

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 $500 each month. car loan payments loan balance ($) months since purchase

Answer

Explanation:

Step1: Identify two points on the line

Let's take (0, 7000) and (14, 0).

Step2: Calculate the slope formula

The slope formula is $m=\frac{y_2 - y_1}{x_2 - x_1}$. Here, $x_1 = 0,y_1=7000,x_2 = 14,y_2 = 0$. So $m=\frac{0 - 7000}{14-0}=\frac{- 7000}{14}=-500$.

Step3: Interpret the slope

The slope of - 500 means the loan - balance (y - value) decreases by 500 for each unit increase in the number of months (x - value).

Answer:

The loan balance decreases $500 per month.