SOLUTION: One person owes $200 and pays back $5 per week. Another person has no money and borrows $15 per week. When will both people have the same amount of money (or debt)?
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: One person owes $200 and pays back $5 per week. Another person has no money and borrows $15 per week. When will both people have the same amount of money (or debt)?
Log On
Question 1111009: One person owes $200 and pays back $5 per week. Another person has no money and borrows $15 per week. When will both people have the same amount of money (or debt)? Found 2 solutions by josmiceli, greenestamps:Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = number of weeks starting with zero
Let = current amount of money
Equation for person owing money:
Equation for borrower:
---------------------
Make equal for both
In 10 wks they will have the same amount
Get a 2nd opinion if needed
One person's debt is getting smaller by $5 a week; the other person's is getting larger by $15 a week.
The difference between the amounts of the two debts is changing by $20 a week.
Then, since the difference in the two debt amounts in the beginning was $200, the number of weeks it will take for the two debts to be equal is 200/20 = 10.
