Question

Yesterday, two friends went into a bank to open savings accounts. Jesse started by putting

$17 in his account, and he will deposit an additional $349 each week. Rick made no initial
deposit, but he will add $366 more each week. In a few weeks, the friends will have the same
account balance. What is that account balance? How many weeks will that take?

Answer 1

The friends' bank account balances will be equal after 1 week, with both having a balance of $366.

Step-by-step explanation:

The question involves finding when two accounts will have the same balance, given that each friend deposits different amounts weekly.

Jesse's account can be represented by J(t) = 17 + 349t, where t is the number of weeks. Rick's account is simpler: R(t) = 366t. To find when the balances will be equal, we set J(t) equal to R(t) and solve for t.

Calculations:

• 17 + 349t = 366t
• 366t - 349t = 17
• 17t = 17
• t = 1

So, it will take 1 week for their account balances to be the same. Now, to find the equal account balance:

• J(1) = 17 + 349(1) = $366
• R(1) = 366(1) = $366

Therefore, after one week, both Jesse and Rick will have $366 in their accounts.