11x - 3 = x - 13
-x -x
10x - 3 = -13
+13 +13
10x = 10
---- -----
10 10
x = 1
Let's say the APR is 5%. That means you get 5% of your balance back every year. The $100 balance would get $5 back, the $500 balance would get $25 back, and the $1000 balance would get $50 back. Therefore, all of the balances would take the same amount of time to double, and it would take all of them 20 years.
$5*20 years=$100
$25*20 years=$500
$50*20 years=$1000
Answer is provided in the image attached.
The solution to your equation is:
Solve:
1/4x = 5
Step 1: Multiply both sides by 4
4 * (1/4x) = (4) * (5)
x = 20
Thus your answer is:
Letter Choice (C), x = 20
Hope that helps!!!
