SOLUTION: You are choosing between two health clubs. Club A offers membership for a fee of $29 plus a monthly fee of $28. Club B offers membership for a fee of $23 plus a monthly fee of $31.

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: You are choosing between two health clubs. Club A offers membership for a fee of $29 plus a monthly fee of $28. Club B offers membership for a fee of $23 plus a monthly fee of $31.      Log On

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Question 947587: You are choosing between two health clubs. Club A offers membership for a fee of $29 plus a monthly fee of $28. Club B offers membership for a fee of $23 plus a monthly fee of $31. After how many months will the total cost of each health club be the same? What will be the total cost for each club?
Answer by macston(5194) About Me  (Show Source):
You can put this solution on YOUR website!
The difference in membership fees is $6 and the difference in monthly fees is $3, so it will obviously take 2 months to make up the difference. But how do we express this mathematically?
Let M= number of months
Club A=$29+$28M; Club B=$23+$31M
The break even point is when they are equal. After that, time favors the lower monthly fee (Club A)
Club A=Club B
$29+$28M=$23+$31M subtract $23 from each side
$6+$28M=$31M Subtract $28M from each side
$6=$3M Divide each side by $3
2=M ANSWER: After 2 months, the cost of the clubs is the same
Cost at 2 months:
Club A=$29+$28(2)=$29+$56=$85
Club B=$23+$31(2)=$23+$$62=$85
ANSWER: Total cost of each club at break even point is $85.