Explore BrainMass

Linear Formula & Money Problems

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

In 2000, the average cost of tuition and fees at public four- year colleges was $3500, and in 2005 it was $5100. The supporting information is listed below. Note that the known value for 2001 is $3700.

1.) Cost of Tuition

Plot (00,162) and (5,201) to see the shape of the line

Slope= (201-162)/5 = 7.8

Intercept= 162

Equation: y = 7.8x+162

2.) Calculate the slope of the line in your graph.

Slope = 3900/500

3.) Modeling Tuition

Y = MX + B
16200 = (7.8) 2000 + B
16200 = 15600 + B
-15600 -15600
600 = B


4.) Predicting Tuition

T-(2010)> 17300

© BrainMass Inc. brainmass.com October 17, 2018, 3:10 am ad1c9bdddf

Solution Preview

1.)The formula for the line for the given ordered pairs in #1 is correct.

2.) Based on the information in this problem, the slope should be: (5100-3500)/5 =$320/year ...

Solution Summary

This solution solves a set of algebra problems that apply the slop-intercept form of the linear equation to financial projection problems. The problems in the solution are related to future cost of tuition, but the methods used here will work for any application of linear equations to word problems.

Similar Posting

Systems of Linear Equations Word Problems

Problem 1. Investments. William opened two investment accounts for his grandson's college fund. The first year, these investments, which totaled $18,000, yielded $831 in simple interest. Part of the money was invested at 5.5% and the rest at 4%. How much was invested at each rate?

Problem 2.
"Arctic Antifreeze" is 18% alcohol and "Frost No-More" is 10% alcohol. How many liters of Arctic Antifreeze should be mixed with 7.5 L of Frost No-More in order to get a mixture that is 15% alcohol?

How does the author determine what the first equation should be?
What about the second equation?
How are these examples similar?
How are they different?

View Full Posting Details