Question

A student has a savings account with $475 in it. She deposits $125 of her paycheck

into the account every week. Her goal is to save $7,000 for college.
a. How much will be in the account after 3 weeks?
b. How long will it take before she has $1,350?
c. Write an equation that represents the relationship between the dollar amount
in her account and the number of weeks of saving.

Answer 1

Explanation:

a. After 3 weeks, the student will have deposited a total of $125 x 3 = $375 into her account.

To find out how much will be in the account after 3 weeks, we need to add the initial amount of $475 to the total deposits of $375.

Therefore, the amount in the account after 3 weeks will be $475 + $375 = $850.

b. To find out how long it will take for the student to have $1,350 in her account, we need to determine how many weeks it will take for her total deposits to reach $1,350.

Let's denote the number of weeks as "x". Since she deposits $125 each week, the equation for the relationship between the dollar amount in her account and the number of weeks of saving can be represented as:

$125x + $475 = $1,350

To find the value of "x", we can start by subtracting $475 from both sides of the equation:

$125x = $1,350 - $475

Simplifying further:

$125x = $875

Finally, to solve for "x", we divide both sides of the equation by $125:

x = $875 / $125

Simplifying:

x = 7

Therefore, it will take 7 weeks for the student to have $1,350 in her account.

c. The equation that represents the relationship between the dollar amount in her account and the number of weeks of saving is:

Amount in account = ($125 x Number of weeks) + $475

This equation takes into account the initial amount in the account ($475) and the weekly deposits ($125) multiplied by the number of weeks.