Question

The table shows the balances of two bank accounts for 3 months. In what month will the balance of Account A be equal to the balance of Account B? Month Account A Account B 0 $250 $490 1 $295 $505 2 $340 $520

Answer 1

After 8 months, the balance of Account A will be equal to the balance of Account B.

Step-by-step explanation:

To find out the month in which the balance of Account A will be equal to the balance of Account B, we need to first observe the pattern of growth for both accounts.

From the information provided, we can see that Account A increases by $45 each month ($250 to $295 to $340), and Account B increases by $15 each month ($490 to $505 to $520).

We can set up an equation where the initial balance plus the monthly increase times the number of months (n) for Account A is equal to the initial balance plus the monthly increase times the number of months (n) for Account B.

For Account A: 250 + 45n
For Account B: 490 + 15n
Set them equal to each other to find n:
250 + 45n = 490 + 15n
Now, solve for n:

Subtract 15n from both sides: 250 + 30n = 490

Subtract 250 from both sides: 30n = 240

Divide both sides by 30: n = 8

So, after 8 months, the balance of Account A will be equal to the balance of Account B.