Problema Solution
Steve currently has $100 in his savings account and Amy has $250.Amy plans to save $25 a month and Steve wants to save $40.After how many months will the same amount of money?
Answer provided by our tutors
Let 'x' be the time they need to save to have same amount of money.
After x months Steve will have 100 + 40*x (the sum on the initial saving + number of months * per month saving)
After x months Amy will have 250 + 12*x (the sum on the initial saving + number of months * per month saving)
Since after x months they will have same amount of money we can write
100 + 40*x = 250 + 12*x
40*x - 12*x = 250 - 100
28*x = 150
x = 150/28
x = 5 5/14 = 5.357 months approximately
Steve and Amy will have same amount of money after 5 5/14 = 5.357 months approximately.