Alison is saving for retirement. Her company matches what she puts into her 401K in a ratio of 2:3. If she puts in $400 each mon
2 answers:
You might be interested in
Questions (contd)
(a) For what amount of driving do the two plans cost the same?
(b) What is the cost when the two plans cost the same?
Answer:
(a) 100 miles
(b) $65
Step-by-step explanation:
Given
Plan 1:
per mile
Plan 2:
per mile
Solving (a): Number of miles when both plans are equal
Represent the distance with x and the cost with y
So:
Plan 1:
Plan 2:
To solve (a), we equate both plans together; i.e.
Collect Like Terms
Solve for x
Hence, 100 mile would cost both plans the same
Solving (b): Cost when both plans are the same:
In this case, we simply substitute 100 for x in any of the y equation.
<em>Hence, the amount is $65</em>