I NEED HELP :(

posted by .

Mr. Malone is putting money in two savings accounts. Account A started with $200 and Account B started with $300. Mr. Malone deposits $15 in Account A and $10 in Account B each month. In how many months will the accounts have the same balance? What will that balance be?

  • I NEED HELP :( -

    You will get help much faster if you type in the name of the subject. Typing in I need help means you hope someone reads the question AND has the knowledge to answer your question. I just clicked on the question to see what it was.
    Here is how you do the problem,
    Let x = number of months
    The money deposited to A will be 15*x at the rate of $15/month.
    The money deposited to B will be 10x at the rate of $10/month.
    The account for A in x months will be 200+15x.
    The account for B in x months will be 300+10x. The problem states that at this time both accounts will be the same; therefore, set them equal to each other.
    200 + 15x = 300 + 10x
    Solve for x (I find 20 months).
    How much will they be worth in 20 months?
    200 + 15*20 = ?
    300 + 10*20 = ?

  • I NEED HELP :( -

    Okay thank you! I understand now!

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    or this one tracey has 4,300 in his savings account. the money in the account earns 4.6% intrest each year assuming he makes no deposits, how much money will he have in his account atthe end of the year?
  2. Math

    Mr. Malone is putting money in two savings accounts. Account A started with $200 and Account B started with $300. Mr. Malone deposits $15 in Account A and $10 in Account B each moth. In how many months will the accounts have the same …
  3. Algebra

    Mr. Malone is putting money in two savings accounts. Account A started with $200 and Account B started with $300. Mr. Malone deposits $15 in Account A and $10 in Account B each moth. In how many months will the accounts have the same …
  4. math

    Sam opened a money-market account that pays 2% simple interest. He started the account with $7,000 and made no further deposits. When he closed the account, he had earned $560 in interest. How long did he keep his account open?
  5. Math

    A friend opens a savings account by depositing $1000. He deposits an additional $75 into the account each month. a. What is a rule that represents the amount of money in the account as an arithmetic sequence?
  6. math

    A friend opens a savings account by depositing $1000. He deposits an additional $75 into the account each month. a. What is a rule that represents the amount of money in the account as an arithmetic sequence?
  7. math

    A friend opens a savings account by depositing $1000. He deposits an additional $75 into the account each month. a. What is a rule that represents the amount of money in the account as an arithmetic sequence?
  8. Math

    Jimmy opens a savings account with a $200 deposit at the beginning of the month. The account earns 4.6% annual interest compounded monthly. At the beginning of each subsequent month, Jimmy deposits an additional $200. How much will …
  9. math help Please?

    1. A savings account is started with an initial deposit of $500. The account earns 1.5% interest compounded annually. (a) Write an equation to represent the amount of money in the account as a function of time in years. (b) Find the …
  10. Algebra

    I don't understand how to do this problem: A savings account is started with an initial deposit of $500. The account earns 1.5% interest compounded annually. (a) Write an equation to represent the amount of money in the account as …

More Similar Questions