Jenna has $1500 in a savings account. She adds $30 to her account each month. Luis has $2400 in his savings account. He withdraws $30 from his account each month. a. In how many months will they have the same balance in their savings accounts

Question

Leonardo Santiago

Business

6 December, 17:54

Jenna has $1500 in a savings account. She adds $30 to her account each month. Luis has $2400 in his savings account. He withdraws $30 from his account each month. a. In how many months will they have the same balance in their savings accounts

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Answers (1)

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Isabell Oconnell · Answer 1

15 months

Explanation:

Jenna's account balance = $1500

Addition to account for x number of months = $30

Total deposits = 30x

Luis's account balance = $2400

Withdrawal from the account for x number of months = $30

Total withdrawal = - 30x

For both accounts to be the same

1500 + 30x = 2400 - 30x

30x + 30x = 2400 - 1500

60x = 900

x = 900/60

x = 15

In 15 months, the savings accounts of both of them will have the same balance.