Question

If you have a balance of $270 in your bank account each month you deposit $45 let January=1 February=2 and so on. Write any equation for the situation using equation to find the balance in June

Answer 1

$540

Explanation:

We are given that the initial balance in the bank account is $270.

We are then told that every month $45 is added to the account.

To find the equation that tells us the balance at any point in time assuming no interest is added or money is taken out, we can first understand the constant, y=270.

This gives us the initial value of the balance and any changes to the balance will start from this point.

Let x be the time in months.

if we let y=270 + 45x, we find the value of the function accounting for the addition of money every month.

Assuming money is put in during January; substituting the number of months as x=6 (since it is June), we can find the balance in June.

y=270 +45(6)=540

Hence, the balance in June is $540