Question

Money Mike is putting money in two saving accounts. Let x represent the number of months and y represent the balance. Account A starter with $225, and account B started with $350. Money Mike deposits $15 in account A and $10 in account B each month. This system of equations represents the situation.

Y=225+15x
Y=350+10x

Answer choices
A $400
B $580
C $600
D $1500

Answer 1

The balance in both accounts will be $600 at the equilibrium.

Step-by-step explanation:

The system of equations can be solved to find the balance in Account A and Account B over time.

We have:

• Account A: Y = 225 + 15x
• Account B: Y = 350 + 10x

To find the equilibrium balance, we set the two equations equal to each other:

225 + 15x = 350 + 10x

Simplifying the equation gives:

5x = 125

Dividing both sides by 5, we get:

x = 25

Substituting the value of x back into one of the equations, we can find the equilibrium balance:

Y = 225 + 15(25)

Y = 225 + 375

Y = 600

Therefore, the balance in both accounts will be $600 at the equilibrium.