Question

Kayla and Pam each opened a savings account on the same day. Kayla started by putting $698 in her account, and she will deposit an additional $434 each week. Pam made an initial deposit of $981, and she will add $151 more each week. Eventually, Kayla and Pam will each have the same amount saved. How many weeks will that take? What is that amount?

Answer 1

It will take 3 weeks for Kayla and Pam to have the same amount saved, and that amount will be $2000.

Step-by-step explanation:

To find the number of weeks it will take for Kayla and Pam to have the same amount saved, we can set up an equation.

Let x represent the number of weeks.

Kayla's total savings after x weeks can be represented as: 698 + 434x

Pam's total savings after x weeks can be represented as: 981 + 151x

Setting the two equations equal to each other: 698 + 434x = 981 + 151x

Simplifying the equation: 283 + 283x = 981

Subtracting 283 from both sides: 283x = 698

Dividing both sides by 283: x = 2.47

Rounding to the nearest whole number, it will take 3 weeks for Kayla and Pam to have the same amount saved. Substituting x = 3 into either equation, we can find the amount they will have saved: 698 + 434(3) = $2000