Question

The balance of a loan is $2,570 in January, and the monthly payment is $125.50. The relationship between the loan balance, y, and the number of monthly payments made since January, x, can be represented by the equation y = 2,570 - 125.50x. In what months does the loan balance, y, meet the condition, $1,600 < y < $2,000?

Options below>select all that apply
January
February
March
April
May
June
July
August
September
October
November
December

Answer 1

May, June, and July <<< answers

y = 2,570 - 125.50x

$1,600 < y < $2,000

Answer 2

May

June

July

Explanation:

Equation: y = 2,570 - 125.50x

Conditions: $1,600 < y < $2,000

First Condition y > 1,600:

1,600 > 2,570 - 125.50x

125.50x < 2,570 - 1,600

x < 970 / 125.50

x < 7.73

Second Condition y < 2,000:

2,000 < 2,570 - 125.50x

125.50x > 2,570 - 2,000

x > 570 / 125.50

x > 4.54

Therefore,

4.54 < x < 7.73

So, the months that meet the given condition are:

Month 5: May

Month 6: June

Month 7: July

Hope this helps!