Question

You pay $510 to rent a storage unit for 3 months. the total cost includes an initial deposit plus a monthly fee of $160.

A) write an equation that represents your total cost y (in dollars) after x months.

B) Interpret the y-intercept.

Answer 1

Monthly rent is $160. So for 3 months, total calculated rent is $160*3= $480. Hence, $510-$480 is the amount paid over the amount of rent. A simple linear equation is represented by y=mx+c. Therefore, in this case it is represented by y=30+160x. In this the intercept term, represent the value of y when the value of x is 0.