Question

Writing Simultaneous Linear Equations Practice
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Question
A local bank recommends opening a savings account with a $100 initial deposit and a $15 monthly deposit. A local credit union recommends opening a savings account with a $50 initial deposit and a $20 monthly deposit. A system of equations is written to find the month at which the two accounts have the same balance. If x represents the number of months after the initial deposit and y represents the account balance in dollars, the equation for the credit union account balance is y = 20x + 50. What is the equation for the bank account balance?(1 point)
The equation for the bank account balance is y

Answer 1

To write the equation for the bank account balance, we start with the initial deposit and the monthly deposit.

The bank account has:
- An initial deposit of $100, and
- A monthly deposit of $15.

So, for the bank account, the total balance after \( x \) months can be expressed as:

\[
y = 15x + 100
\]

Thus, the equation for the bank account balance is:

\[
y = 15x + 100
\]