8)Jordan has a loan at a bank and makes monthly payments. He pays different amounts each month,but can approximate the total amount he owes the bank using the equation y = -150x + 1250, wherey is the total amount owed and x is the number of months in the loan repayment. Which statement istrue based on the equation?(B)(A) He started with a total loan of $150.(C) He pays approximately $1,250 eachmonth.He started with a loan of $1,100.He pays approximately $150 each month.(D)