Whar is the y-intercept of a line that has a slope of 1/4 and passes through point (8, 3)​

y = a*x + b

a is the slope and b is the y-intercept (at x=0)

is the general formula.

let's plug in the x and y information of the point, and slope.

3 = 1/4 * 8 + b

that seems like we can solve for b

3 = 2 + b

1 = b

the y-intercept is at (0,1)

explanation:

the loan estimate encourages consumers to shop. since it is the lenders who are required to issue a standardized loan estimate in a specific time frame, this way consumers are provided an opportunity to compare lenders and their products. otherwise consumer wouldn't know the benefits offered by other lenders.  

if a loan originator does not provide a loan estimate within 3 business days of receiving a completed loan application, that lender is in violation. lenders are required to issue a loan estimate within 3 days of applying for a loan or within 7 days prior to closing. having a loan estimate has following information.

not having loan estimate won't give you an idea of money to be borrowed.

you get to know your interest rates.

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not having a good faith estimate can keep you unaware of aforementioned points.