Does this company earn or lose money
2 answers:
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<u>Answer:</u>
3 months
<u>Explanation: </u>
Amount saved in Gina’s saving account= 250
Amount Gina puts in her account each month= 4% of 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
=
=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