According to the given data we have the following equation:
-70.4x + 1, 250 = 50.5x + 1, 110
The word problem would be write as follows:
A man has an account such that initially there was 1250 there, then every month he withdraws $70.40
And that after a certain number of months, x, the money in the account is equal to another account such that there was originally $1110 there and then he deposits $50.50 every month
x would be then the number of months to be calculated