Alinear model is used to determine the amount owed on a loan of $5,000 with simple interest of 4.25%. the model is a
= 5000 + 5000(0.0425t), where a is the amount (total principal plus interest) required to repay a loan, and t is the time,
in years.
a. what is the slope of this model? include units in your answer. hint: think about simplifying the equation or find a few values to find out much the amount increases each year.
/ years
b. use the model to determine how long it would take for the loan amount to reach $7,000. round to the nearest
tenth. be sure to write down your work.