Question

Jaymie opened a savings account with $595.25. Every week, she withdraws $27.50 from her account. Steve opened a savings account with $147.25. Every week, he deposits $23.70 into his account. In about how many weeks will their savings in the bank be equal? Choose the most reasonable estimate.
7 weeks
9 weeks
10 weeks
15 weeks

Answer 1

To find the number of weeks it will take for their savings to be equal, we need to find the difference between their initial savings and their weekly contributions and then divide that difference by the weekly difference in contributions.

For Jaymie:
total difference = $595.25 - $27.50 = $567.75

For Steve:
total difference = $147.25 + $23.70 = $170.95

Difference in weekly contributions = $27.50 - $23.70 = $3.80

Number of weeks = $567.75 / $3.80 ≈ 149.1

Since we can't have a fraction of a week, the most reasonable estimate would be 149 weeks, which is closer to 150 weeks.

Therefore, the most reasonable estimate is 150 weeks. However, none of the given options are close to this estimate.