There is an initiation fee to join the River Country Club, as well as monthly dues. The total cost after 7 months' membership will be $3,125, and after 11/2 years, $3,950. Find both the initiation fee and the monthly dues.

Question

There is an initiation fee to join the River Country Club, as well as monthly dues. The total cost after 7 months' membership will be $3,125, and after 11/2 years, $3,950. Find both the initiation fee and the monthly dues.
initiation fee	    	$  
monthly dues	    	$

PsyDAG · Answer

Let X = initiation fee X + 18m = 3950 X + 7m = 3125 Subtract second equation from first to solve for m. Insert value into either equation to solve for X.