Answer:
Explanation:
A consumer is considering two different purchasing options for the car of their choice. The first option, which is leasing, is described by the equation 250x - y + 4000 = 0 where x represents the number of months of ownership and y represents the total paid for the car after ‘x' months. The second option, which is the financing option, will cost $400 for 0 months of ownership, (0,400), and $4400 for 10 months of ownership, (10, 4400). Part A: Find the equations, in slope/y-intercept form, for each of the purchasing options. Explain the significance of the slope and y-intercept for each purchasing option.
Answer: For the first option which is leasing, it is described by the equation:
250x - y + 4000 = 0
The general equation of a line is y = mx + c, where m is the slope of the line and c is the intercept on the y axis.
Since 250x - y + 4000 = 0, we need to make it in the form of the general equation by making y the subject of the formula.
Therefore:
y = 250x + 4000
This means that the slope is 250 and the y intercept is 4000. That is at 0 months, the amount paid for the car is $4000 for the first option. As the value of the months increase by 1, the amount paid for the car increase by 250
The second option, which is the financing option, will cost $400 for 0 months of ownership, (0,400), and $4400 for 10 months of ownership, (10, 4400). To get the equation of the line, we use the formula:
The second option has a slope of 400 and an intercept of 400. At 0 months, $400 is paid for ownership. As the value of the months increase by 1, the amount paid for the car increase by 400