SOLUTION: Christiana and Marlena opened their first savings accounts on the same day. Christiana opened her account $50 and plans to deposit $10 every month. Marlena opened her account with

Algebra ->  Average -> SOLUTION: Christiana and Marlena opened their first savings accounts on the same day. Christiana opened her account $50 and plans to deposit $10 every month. Marlena opened her account with       Log On


   

Question 385160: Christiana and Marlena opened their first savings accounts on the same day. Christiana opened her account $50 and plans to deposit $10 every month. Marlena opened her account with $30 and plans to deposit $15 every month. After how mnay months will their two accounts have the same amount of money? What will that amount be?
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
Christiana opened her account $50 and plans to deposit $10 every month.
Marlena opened her account with $30 and plans to deposit $15 every month.
After how mnay months will their two accounts have the same amount of money?
:
Let m = no. of months
:
C = 10m + 50; Christiana's balance in m months
and
M = 15m + 30; Marlena's balance in m months
when are they equal: M = C
15m + 30 = 10m + 50
15m - 10m = 50 - 30
5m = 20
m = 20/5
m = 4 months, they will be equal
:
What will that amount be?
C = 10(4) + 50
C = $90
and
M = 15(4) + 30
M = $90 is the amt