Question

Benjamin has $5,000 in his bank account. He spends $250

per month on car expenses using the money in his account.
Benjamin's friend Corrado has $2,000 in his bank account. He
deposits $100 each month into his account for his college fund.
1. Write an equation for the amount of money, y, in each person's
bank account for a given month,x.

Answer 1

$5000 - $250x = y (Benjamin)

$2000 + $100x = y (Corrado)

Explanation:

• Benjamin is spending $250 per month. So if number of given months is x his total spending in x number of months will be $250x. Whereas his initial amount in bank was $5000 and he is withdrawing $250 each month. So the remaining amount y spent on car expenses can be calculated with the equation as follows:

$5000 - $250x = y

• Benjamin's friend Corrado is depositing $100 per month. So if number of given months is x his total deposits in x number of months will be $100x. Whereas his initial amount in bank was $2000 and he is depositing $100 each month which will add in initial amount to find y the current amount of money in bank. So the total amount y saved for college fund, can be calculated with the equation as follows:

$5000 - $250x = y