Question

Bill is depositing money into a money market account. Let y represent the total amount of money in the account (in dollars). Let x represente the number of weeks bill has been depositing money into his account. Suppose x and y are related by the equation:

Y= 55x + 1250

A) how much money is bill depositing into the account every week?

B) what was the starting amount of money in the account)?

C) how much money will he have in his account after 26 weeks?

Answer 1

a) Bill is depositing $55 in the account each week

b) the account started with $1250 in it

c)Bill will have $2680 in his account after 26 weeks