A baseball card that was bought for $5 increases in value by 4.5% each year. Write and solve an equation to find the value of th
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Answer:
<em>Terry had £780 initially and Faye had £1300</em>
Step-by-step explanation:
<u>System of Equations</u>
We'll call the following variables:
x = Terry's balance in his bank account
y = Faye's balance in her bank account
The initial relation between them is:
Cross-multiplying:
5x = 3y [1]
If Terry put £220 in his account he had x+220 and if Faye withdrew £300 from her account, she had y-300. Both quantities are equal, thus
x + 220 = y - 300
Subtracting 220:
x = y - 520 [2]
Substituting in [1]
5(y - 520) = 3y
Multiplying:
5y - 2600 = 3y
Adding 2600 and subtracting 3y:
2y = 2600
Dividing by 2:
y = 1300
From [2]:
x = 1300 - 520
x = 780
Terry had £780 initially and Faye had £1300