Question

Katy's has $105 and is saving $2 a month. James has $175 and is spending $3 a month. When will they have the same amount of money?

Answer 1

Katy and James will have the same amount of money after 14 months. We can calculate this by setting up an equation based on their starting amounts and monthly saving/spending habits.

Step-by-step explanation:

To find out when Katy and James will have the same amount of money, we need to set up an equation. Katy starts with $105 and saves $2 each month. James starts with $175 and spends $3 each month. To calculate the number of months until they have the same amount, let's call the number of months 'm'. The equation will be:

105 + 2m = 175 - 3m

Solving for 'm' gives us:
5m = 70
m = 14

So, after 14 months, Katy and James will have the same amount of money.