Question

In order to lure new customers to a credit card, a bank is offering an initial cash back award, plus cash back amounting to a percentage of the value of all purchases made with the card the value of all purchases made with the card and the amount of cash back which of these equations does the graph represent ?

Answer 1

A.
`c = 0.03p + 150`.

Explanation:

The equation can be written in slope-intercept form as
`c = mp + b`, where:

c = cash back (dollars)

p = value of purchases (dollars)

m = slope of the graph

b = y-intercept, which is the initial cash back award.

All we need to generate an equation that represents the graph, we need to find out the value of m and b.

b = until cash back award = 150

The slope, m, can be calculated using two points in the line, (1000, 180) and (2000, 210):

`slope (m) = (y_2 - y_1)/(x_2 - x_1) = (210 - 180)/(2000 - 1000) = (30)/(1000) = 0.03`

Substitute m = 0.03, and b = 150, in
`c = mp + b`.

The equation would be:

✅
`c = 0.03p + 150`.