Question

Savings account A contains $80. Lance will bein depositing money into this account at a rate of $3.50 per week.

Savings account B contains $95. Lara will begin depositing money into this account at a rate of $3.25 per week.
After how many weeks will both accounts contain the same amount of money?
O 290 weeks
15 weeks
0 3.75 weeks
O 60 weeks

Answer 1

Both savings accounts will have the same balance after 60 weeks. This is found by setting up an equation based on the initial amounts and the rates of weekly deposits for both accounts, and then solving for the number of weeks.

Step-by-step explanation:

The question asks us to determine when two savings accounts will have the same amount of money given that they start with different balances and have different weekly deposit rates. To solve this, we set up an equation where the total amount in Account A equals the total amount in Account B. Let x represent the number of weeks after which both accounts will have the same amount of money.

For Account A, which starts with $80 and has $3.50 deposited each week, the total amount after x weeks will be:
80 + 3.50x.

For Account B, which starts with $95 and has $3.25 deposited each week, the total amount after x weeks will be:
95 + 3.25x.

Setting these two expressions equal to each other gives us:
80 + 3.50x = 95 + 3.25x.

To find x, we solve the equation:
3.50x - 3.25x = 95 - 80
0.25x = 15
x = 15 / 0.25
x = 60.

Therefore, both accounts will contain the same amount of money after 60 weeks.