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)

Question

The equation for the bank account balance is y=
y
=

Answer 1

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

1. The initial deposit is $100.
2. The monthly deposit is $15.

Thus, the account balance \(y\) after \(x\) months can be represented as:

\[ y = 15x + 100 \]

So, the equation for the bank account balance is:

\[ y = 15x + 100 \]