Question

Jim currently has​ $1,250 in his bank account and Sally has​ $1,400 in her bank account. Jim deposits​ $27.50 per week and Sally deposits​ $20 per week into her account. After how many weeks will they have the same amount of​ money? Jim and Sally will have the same amount of money after nothing ​week(s). ​(Type an integer or a​ decimal.)

Answer 1

20 weeks.

Explanation:

The equations of money deposits of each bankholder as a function of time are, respectively:

Jim

`p_(1) = 1250 + 27.50\cdot t\\`

Sally

`p_(2) = 1400 +20\cdot t`

The number of weeks so that both have the same amount of money is:

`1250 + 27.50\cdot t = 1400 + 20\cdot t`

`7.50\cdot t = 150`

`t = 20`