Question

The scatter plot shows the balance of a loan over the course of two years. Assuming the line of best fit for the given scatterplot is y=−353.71x+18,075, after how many months will the balance of the loan reach $0?

A. 32 months

B. 35 months

C. 47 months

D. 51 months

Answer 1

The balance of the loan will reach $0 after approximately 51 months.

Step-by-step explanation:

The equation of the line of best fit is y = -353.71x + 18,075. In this equation, y represents the balance of the loan and x represents the number of months. To find when the balance of the loan reaches $0, we need to set y equal to 0 and solve for x:

0 = -353.71x + 18,075

Simplifying the equation, we get:

x = (18,075 / 353.71)

Using a calculator to evaluate this expression, we find that x is approximately 51 months. Therefore, the balance of the loan will reach $0 after approximately 51 months, which corresponds to option D.