SOLUTION: Conner has 25,000 in his bank account. Every month he spends $ 1,500. He does not add money to the account.
How much money will Conner have in his account after 8 months?
Question 660683: Conner has 25,000 in his bank account. Every month he spends $ 1,500. He does not add money to the account.
How much money will Conner have in his account after 8 months?
Hi, there--
Problem:
Conner has 25,000 in his bank account. Every month he spends $ 1,500. He does not add money to the account.
How much money will Conner have in his account after 8 months?
Answer:
You can model this situation with a linear equation in the form y=mx+b.
The y-intercept b is the starting balance in in Conner's account: $25,000.
The slope m is the amount Conner spends each month: - $1,500 per month. The slope is negative because the bank balance is decreasing.
The equation is .
The variable x represents the number of months since the account opened.
The variable y represents the monthly balance.
You want to know the balance after 8 months, so x=8. Substitute 8 for x in the equation.
Solve for y.
After 8 months, Conner's bank balance is $13,000.
That's it.
Mrs.Figgy
