Question

Mr. Morris is putting money into a savings account. His initial savings was $200 and he will deposit $15 each month.

Part A) Write an equation to represent Mr. Morris's total savings. Define your variables

Part B) Determine the savings, if Mr. Morris has saved for 6 months.

Part C) The Morris's 20th anniversary is in 2 years. Will Mr. Morris have saved up enough money for the $500 gift that he would like to buy for Mrs. Morris in time for their 20th anniversary?

Answer 1

Mr. Morris already had $200.00 in his bank account. Thereafter he started to deposit $15.00 each month.

Now lets say he saved money for 'x' months.

Part A. The equation that can represent Mr. Morri's savings is given by:

Savings after 'x' months is
`=15* x+200=15x+200`

Here, it can be seen that Mr. Morris had 200 dollars in his bank account now whatever he is depositing each month will be an additional amount in addition to that of $200.00.

So the desired equation for Mr. Morris's savings is
`15x+200`.

Part B. Using the previous equation that represents the savings, we can calculate how much Mr. Morris has saved for 6 months.

Since we know that 'x' represents the number of months, we can put x=6 in the equation and we get:

`15* 6+200=90+200=290`

So, Mr. Morris has saved $290.00 after 6 months.

Part C. Now, we need to check if Mr. Morris will have saved $500.00 over the period of 2 years.

There are 12 months in 1 year, so there are
`2 * 12=24` months in 2 years.

Plugging x=12 in the equation that represents the savings, we get:

`15* 24+200=560`

Hence, we can see that he will have saved $560.00 over 2 years. Therefore, Mr Morris can buy the gift of $500.00 for Mrs. Morris for their 20th anniversary.