Mike is saving to buy a car. He already has $500 in the bank, and he plans to save $250 each month. This relationship is represented by the equation y=250x+500, where x is the number of months and y is the total money saved.
1. Identify the slope.
2. Explain what the slope means in this problem.
3. Identify the y-intercept.
4. Explain what the y-intercept means in this problem.
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First remeber that the standard from of a line is
Y = Mx + C
1. M is the slope so that is 250
2. slope is a rate of change - so in this equation - he is planning to save at a rate of 250 per month