MyLab and Mastering Math 120 1.4, 1.5, and 16 1.42 points ClarkiNg1 1.4.016. A l
ID: 3169785 • Letter: M
Question
MyLab and Mastering Math 120 1.4, 1.5, and 16 1.42 points ClarkiNg1 1.4.016. A loan officer at a bank earns a $100 commission on each of his loans in addition to his $1700 base monthly salary (a) Write an equation for the monthly salary M that the loan officer earns if he has / loans a month. M= (b) Find the vertical intercept U, M)- Explain its meaning in this situation. (Include units with your numerical answers.) If a loan officer makes loans his/her salary will be for the month. (c) Find the horizontal intercept. Explain its meaning in this situation. (Include units with your numerical answers) If a loan officer makes loans his/her salary will be for the month. ThiSelect possible. s not Talk to a Tutor Submit Answer Save ProgressPractice Another Version 1.15 points ClarkdAlg1 1.4.018 My N Suppose the population of Minnesota in thousands t years since 2000 can be represented by the equation P -43t+5707. (a) Find the P-intercept t PExplanation / Answer
a) M = 100 * I + 1700
b) (I, M) = 1700
The vertical intercept i the value of M when I = 0.
Solve for the vertical intercept by makking I = 0 and then solving for M.
M = 100 * I + 1700 becomes M = I * 0 + 1700 which becomes M = 0 + 1700 =1700.
This means the loan officer makes 1700 a month even if he makes zero loans during the month.
c) The horizontal intercept is value if I when the value of M = 0.
Solve for the horizontal intercept by making M = 0 and solving for I.
M = 100 * I + 1700
0 = 100 * I + 1700
substract 1700 from both side of the equation to get -1700 = 100 * I
Divide both sides of this equation by 100 to get -1700 / 100 = I
solving for I to get I = -17
This means that loan officer will not make any money during a month if he sells -17 loans for the month
this is not possible because the number of loans he sells for the month cant be less than 0.
the minimum amount of loans he sells for the month is 0.
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