Question

daniel is working on paying off a loan that he took out for graduate school. at the beginning of last year, the loan had a balance of $2,000. he kept track of the balance of the loan for each month after that, and his data is represented in the table.
create a scatterplot to represent daniels data.
daniels loan balance
number of months
loan balance
0
$2000
1
$1900
2
$1800
3
$1600
4
$1500
5
$1500
6
$1400
7
$1200
8
$1000
9
$900
10
$900
11
$800
12
$800

Explanation:

Step1: Identify the data points

Each row in the table represents a data point. For example, when the number of months is \(0\), the loan balance is \(\$2000\); when the number of months is \(1\), the loan balance is \(\$1900\); when the number of months is \(2\), the loan balance is \(\$1800\); when the number of months is \(3\), the loan balance is \(\$1600\); when the number of months is \(4\), the loan balance is \(\$1500\); when the number of months is \(5\), the loan balance is \(\$1500\); when the number of months is \(6\), the loan balance is \(\$1400\); when the number of months is \(7\), the loan balance is \(\$1200\); when the number of months is \(8\), the loan balance is \(\$1000\); when the number of months is \(9\), the loan balance is \(\$900\); when the number of months is \(10\), the loan balance is \(\$900\); when the number of months is \(11\), the loan balance is \(\$800\); when the number of months is \(12\), the loan balance is \(\$800\).

Step2: Plot the data points

On the scatter - plot, the \(x\) - axis represents the number of months and the \(y\) - axis represents the loan balance. For each pair \((\text{Number of Months},\text{Loan Balance})\) from the table, place a point on the graph. For example, plot the point \((0, 2000)\), \((1,1900)\), \((2,1800)\), \((3,1600)\), \((4,1500)\), \((5,1500)\), \((6,1400)\), \((7,1200)\), \((8,1000)\), \((9,900)\), \((10,900)\), \((11,800)\), \((12,800)\)

Answer:

Plot the points \((0, 2000)\), \((1,1900)\), \((2,1800)\), \((3,1600)\), \((4,1500)\), \((5,1500)\), \((6,1400)\), \((7,1200)\), \((8,1000)\), \((9,900)\), \((10,900)\), \((11,800)\), \((12,800)\) on the scatter - plot where the \(x\) - axis is labeled "Number of Months" and the \(y\) - axis is labeled "Loan Balance".