The word problem below was given to me to answer but I am stumped!
#1,2,3 and 4 (below) were given to me as possible answers but I can't seem to make one fit??? Can someone help?
A project that will cost $750,000 will require payments as certain milestones are met. The initial payment is $50,000. When 30% of the work is complete an additional payment of $200,000 is due. When 70% of the work is complete another payment of $300,000 is due. Upon completion of the project the balance is due. The closest linear equation to approximate the payment schedule (where y= amount paid in thousands of dollars, and x=% complete) is:
1. 750 X-Y=0
2. 750 X-Y = -50
3. 600 X-Y= -100
Please elaborate if you can come to the best conclusion.