Problema Solution
Aura currently pays $800 each month to rent her apartment. Due to inflation, however, her rent is increasing by $50 each year. Meanwhile, her monthly take-home pay is $1500 and she predicts that her monthly pay will only increase by $15 each year. Assuming that her rent and take-home pay will continue to grow linearly, will her rent ever equal her take-home pay? If so, when? And how much will rent be that year?
Answer provided by our tutors
Let
x = years
Rent = 800 + 50x
Pay = 1500 + 15x
Rent and pay are equal means:
800 + 50x = 1500 + 15x
........
click here to see the equation solved for x
........
x = 20 years
The pay will equal the rent in 20 years. To find out how much that is, put 20 in for x in one of the equations for rent or pay:
Rent = 800 + 50 x = 800 + 50*20 = $1800
The pay will be $1,800 that year.