Ethan has $9079 in his retirement account, and Kurt has $9259 in his. Ethan is adding $19per day, wh

Discussion in 'Calculator Requests' started by math_celebrity, Mar 25, 2019.

  1. math_celebrity

    math_celebrity Administrator Staff Member

    Ethan has $9079 in his retirement account, and Kurt has $9259 in his. Ethan is adding $19per day, whereas Kurt is contributing $1 per day. Eventually, the two accounts will contain the same amount. What balance will each account have? How long will that take?

    Set up account equations A(d) where d is the number of days since time 0 for each account.
    Ethan A(d): 9079 + 19d
    Kurt A(d): 9259 + d

    The problems asks for when they are equal, and how much money they have in them. So set each account equation equal to each other:
    9079 + 19d = 9259 + d

    Typing this equation into our search engine, we get d = 10.
    So in 10 days, both accounts will have equal amounts in them.

    Now, pick one of the account equations, either Ethan or Kurt, and plug in d = 10. Let's choose Kurt's since we have a simpler equation:
    A(10) = 9259 + 10
    A(10) = $9,269

    After 10 days, both accounts have $9,269 in them.
     

Share This Page