Question

Helpppp :((((

Tom and Tammy each opened a savings account today. Tom opened his account with a starting amount of $490, and he is going to put in $70 per month. Tammy opened her account with a starting amount of $670, and she is going to put in $40 per month.
Let x be the number of months after today.

Write an equation to show when the two accounts would have the same amount of money.

Answer 1

70x + 490 = 40x +670

Explanation:

Let's start with Tom's equation. So we'll start with y=mx+b. b is the amount Tom has started with(aka $490), m is the gain(aka how much money is he getting that month? it's $70) and x is month, plug in the values and you'll get:

y = 70x + 490

Okay do the same thing for Tammy, just change the values accordingly:

y = 40x + 670

Now when are they going to have the same amount of money? This will be the equation to show when they will have the same amount of money. We'll use equal values method:

70x + 490 = 40x +670

subtract 490 and 40x from both sides

30x = 180

divide both sides by 30

x = 6

So, we know now that in 6 months they will have the same amount of money.