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? car loan payments harrison makes a monthly payment of $250. harrison increases his monthly payment by $500 each month. the loan balance increases $250 per month. the loan balance decreases $500 per 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? car loan payments harrison makes a monthly payment of $250. harrison increases his monthly payment by $500 each month. the loan balance increases $250 per month. the loan balance decreases $500 per month.

Answer

Explanation:

Step1: Recall slope meaning in context

In a loan - balance vs time graph, slope represents change in loan balance per unit time.

Step2: Analyze the graph

The loan balance starts at around $7000$ and after 28 months is close to $0$. The change in balance $\Delta y=7000 - 0=7000$ and the change in time $\Delta x = 28$ months. The slope $m=\frac{\Delta y}{\Delta x}=\frac{7000}{28} = 250$. Since the balance is decreasing over time, the slope is negative, which means the loan balance is decreasing by $250$ per month. This implies Harrison makes a monthly payment of $250$.

Answer:

Harrison makes a monthly payment of $250$.