Question

To save for his first house , Patrick established a savings account that is not earning any interest. He planned to invest money according to the formula y = 225x + 150 , where y represents the total amount of money a his account and x represents the number of moths since he started investing .

Answer 1

He pllaned to invest money according to the formula:

y=225x+150

where y is the total amount

and x is the number of months,

So,

Amount of money in the account in 2 years:

Since, the x is represented in months, we have to substitute x=24 months

y=225(24)+150

y=$5550

In two years the account will have $5550

Amount of money in the account in 1 month:

We have to substitute x for only 1 month; x=1

y=225(1)+150

y=225+150

y=$375

He have to invest $375 each month

Amount of money in the account first opened:

First opened, means 0 months, then x=0

y=225(0)+150

y=$150

When it was first opened the account had $150