if you have an annual income of 25,000 the bank will loan you 74,500 at 7.5% interest rate for 30 years. if your income is 55,000 they will loan you 163,900. write the equation.

Answer 1

If you assume a linear relationship:

slope=m=(163900-74500)/(55-25)

m=(L-74500)/(I-25) where I is in thousands of dollars

You can massage this equation around into any required form.