Question

Franklin's grandmother opened a savings account with $275 to help him save money for college. Franklin will deposit $55 each month. His grandmother will deposit $40 each month. If Franklin makes no additional deposits or withdrawals, which equation can be used to find A, the amount of money in Franklin's savings account after p months?

Answer 1

X = 275 + 95p

Explanation:

Hello,

This question requires us to write an expression to find how much he would've saved over a certain period of time.

Initial deposit = $275

Franklin's monthly deposit = $55

Franklin grandmother's deposit = $40

Let the amount he would've saved over a certain period of time p = x

X = 275 + (55 + 40)p

X = 275 + 95p

Eg, how much would he have saved in 5 months

X = 275 + 95(5)

X = 275 + 475

X = $750

I.e in 5 months, he would've saved $750