Business, 31.03.2020 03:27 keltaylor

A student borrows $10,000 from Grannie to purchase a car. The student pays back Grannie $500 each payment and Grannie does not charge any interest. If we let L = the amount owed on the loan and p = the number of payments, then we can write the equation L = 10000 - 500p to relate the two quantities. Calculate the vertical and horizontal intercepts in this problem and interpret their meaning in the context of the problem. Make sure to write the intercepts as ordered pairs and write your explanations in complete sentences.

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A student borrows $10,000 from Grannie to purchase a car. The student pays back Grannie $500 each pa...

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