Question

gina has 250 in her saving account she puts in 4% of her monthly paycheck of 3,100 each month rodger has 350 in his savings account and put in 3% of his monthly salery of 2,900 each month in how many months to the nearest month will gina have more in her account than rodger does

Answer 1

Answer:

3 months

Explanation:

Amount saved in Gina’s saving account= 250

Amount Gina puts  in her account each month= 4% of 3100

=$\frac{4}{100} \times 3100$

= 4 × 31

= 124

Hence total amount  added in each month =124

Therefore money credited x months

= 250 + 124 x

Amount saved in Rodger’s account = 350

Amount Rodger puts in his account each month = 3% of 2900

=$\frac{3}{100} \times 290$

=87

Hence total amount added in each month = 87

Therefore money credited x months

=350 + 87 x

Now to calculate the nearest month when Gina have more in her account than Rodger does

=Amount of money credited in x months in Gina’s account ≥  Amount of money credited in x months in Rodger’s account

=250+124 x ≥ 350+87 x

=37 x≥100

= x≥2.78

=3