Linear Models: Banking

Algebra Level 1

Henry deposits the same amount of money into his bank account each week. After six weeks of saving money, Henry has $70 in his bank account. After ten weeks of saving money, he has $82. Which equation represents the amount of money y y that Henry has in his bank account after x x weeks?

y = 8 x + 2 y = 8x + 2 y = 3 x + 52 y = 3x + 52 y = 10 x + 10 y = 10x + 10 y = 3 x + 70 y = 3x + 70

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1 solution

Brilliant Mathematics Staff
Aug 1, 2020

Let a a denote the first amount of money that Henry has deposited.

And let d d denote the amount of money Henry deposited on a weekly basis.

On the sixth week, Henry has deposited an additional 5 times, so a + 5 d = 70 a + 5d = 70 .

On the tenth week, Henry has deposited an additional 9 times, so a + 9 d = 82 a + 9d = 82 .

Subtracting the second equation from the first equation, we have ( a + 9 d ) ( a + 5 d ) = 82 70 (a+9d) - (a+5d) = 82-70 . Simplifying this gives 4 d = 12 4d = 12 or d = 12 ÷ 4 = 3 d = 12\div4=3 .

And thus, a = 70 5 d = 70 5 3 = 55 a = 70 - 5d = 70 -5\cdot 3= 55 .

Hence, the amount of money that Henry has in his bank account after x x weeks is y = a + ( x 1 ) d = 55 + ( x 1 ) 3 = 3 x + 52 . y = a + (x-1)d = 55 + (x-1) \cdot 3 = \boxed{3x + 52}.

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