The slope of the line means that the homeowner saves 1.6 thousand dollars per year while the y intercept means that the cost of installing the solar panels is 12 thousand dollars.
A linear equation is given by:
y = mx + b
where y, x are variables, m is the rate of change, b is the initial value of y (y intercept).
Let y represent the total money in thousand dollar saved for x years.
Taking the points (0, -12) and (20, 20).
The equation is given as:
[tex]y-y_1=\frac{y_2-y_1}{x_2-x_1} (x-x_1)\\\\y-(-12)=\frac{20-(-12)}{20-0} (x-0)\\\\y+12=1.6x \\\\y=1.6x-12[/tex]
The slope of the line means that the homeowner saves 1.6 thousand dollars per year while the y intercept means that the cost of installing the solar panels is 12 thousand dollars.
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