Question

Monica deposited $40 in a savings account at the end of January. She increases the amount she deposits by the same amount each month. She deposited $69.75 at the end of August. How much will she deposit at the end of December?

Answer 1

Monica would save $94 by December.

Data;

• initial deposit = $40
• number of months she had uniform deposit = 7
• total saving at the end of August = $69.75

Equation

This is a mathematical statement written to solve word problems.

To solve this problem, we would write and equation showing the total amount saving over the period of time.

$69.75=40+7x$

where x represent the amount she saved from February.

Solving for x

$69.75 = 40 + 7x\\69.75-40=7x\\29.75=7x\\7x/7=29.75/7\\x=4.25$

The amount she deposited monthly is $4.25.

Now let's modify the equation to know how much she will save till December.

$y = 40 + 12x\\y=40+12(4.5)\\y=94$

At the end of December, she would've saved $94.

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