Solve the Problem. -Joey Borrows $2,400 from His Grandfather and Pays the Money

question 203

Multiple Choice

Solve the problem.
-Joey borrows $2,400 from his grandfather and pays the money back in monthly payments of $200.
a. Write a linear function that represents the remaining money owed L(x) after x months.
b. Evaluate L(10) and interpret the meaning in the context of this problem.

• A) L(x) = 200x + 2,400; L(10) = 4,400, This represents the amount Joey has paid his grandfather after 10 months.
• B) L(x) = -200x + 2,400; L(10) = 400, This represents the amount Joey still owes his grandfather after 10 months.
• C) L(x) = -200x + 2,400; L(10) = 400, This represents the amount Joey has paid his grandfather after 10 months.
• D) L(x) = 200x + 2,400; L(10) = 4,400, This represents the amount Joey still owes his grandfather after 10 months.

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Definitions:

Increase

A rise in the size, amount, or degree of something.

Constant

A value that does not change in the context of a mathematical equation or statistical model.

Held Constant

A term describing a variable that is not allowed to change throughout the course of an experiment or analysis.

Multiple Regression Model

A statistical technique that models the relationship between a dependent variable and two or more independent variables to understand how the dependent variable changes with changes in the independents.