Question

Mike has $22 in his bank account and deposits $11.50 each week. At the same time, Tim has $218 in his account but is withdrawing $13 each week.
When will the accounts have the same balance? How much money will each of them have after 12 weeks?

Answer 1

Okay so for Mike, he has $22 in his account.

He deposits $11.50 in it each week, and they want to know how much he has in 12 weeks.

First, multiply $11.50 * 12, which is $138. Then add the $22 that's already in the account, which brings him to $160.

Now for Tim,

He has $218 and withdraws $13 every week.

13 * 12 = 156

Now subtract 218 and 156

218 - 156 = 62

So at the end of 12 weeks, Mike has $160 dollars in his account, and Tim has $62 in his account.