Answered

Enter the correct answer in the box.

Simon took out a zero-interest loan for [tex]\$3,300[/tex] to buy a boat. He must pay [tex]\$300[/tex] per month to pay off the total balance of the boat's purchase price. Simon also has [tex]\$1,000[/tex] in his savings account. He plans to deposit [tex]\$600[/tex] every month in this account.

Simon would like a system of equations that tells him at what point he will be able to pay off the total balance for the boat with the help of his savings.

Write the second equation in the system. Enter the correct answer in the box. Substitute numerical values into the expression for all known variables.

Equation 1: [tex]y = 600x + 1,000[/tex]

Equation 2: [tex]3,300 = 300x[/tex]



Answer :

GinnyAnswer
To write the second equation in the system, let's break down Simon's situation:

1. Simon took a loan of [tex]$3,300 for a boat. 2. He pays $[/tex]300 per month towards the loan.

The second equation should represent the remaining loan balance after [tex]\( x \)[/tex] months. To do this, we can set up an equation where [tex]\( y \)[/tex] is the remaining balance of the loan after [tex]\( x \)[/tex] months.

Here's how we derive it step-by-step:

- Initially, the loan amount is [tex]$3,300. - Each month, Simon makes a $[/tex]300 payment towards the loan.

Therefore, the remaining loan balance decreases by $300 each month. We can express the remaining loan balance ([tex]\( y \)[/tex]) after [tex]\( x \)[/tex] months as follows:

[tex]\[ y = 3300 - 300x \][/tex]

So, the second equation is:

[tex]\[ y = 3300 - 300x \][/tex]

This equation tells us the remaining balance of the loan after [tex]\( x \)[/tex] months.

Other Questions