Matt has $100 dollars in a checking account and deposits $20 per month. Ben has $80 in a checking ac

Discussion in 'Calculator Requests' started by math_celebrity, May 27, 2020.

  1. math_celebrity

    math_celebrity Administrator Staff Member

    Matt has $100 dollars in a checking account and deposits $20 per month. Ben has $80 in a checking account and deposits $30 per month. Will the accounts ever be the same balance? explain

    Set up the Balance account B(m), where m is the number of months since the deposit.

    Matt:
    B(m) = 20m + 100

    Ben:
    B(m) = 80 + 30m

    Set both balance equations equal to each other to see if they ever have the same balance:
    20m + 100 = 80 + 30m

    To solve for m, we type this equation into our search engine and we get:
    m = 2

    So yes, they will have the same balance at m = 2
     

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