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 $

1 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.
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