David has $40,000 in a savings account. The interest rate is 5% per year. How much
1 answer:
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Questions (contd)
(a) For what amount of driving do the two plans cost the same?
(b) What is the cost when the two plans cost the same?
Answer:
(a) 100 miles
(b) $65
Step-by-step explanation:
Given
Plan 1:
per mile
Plan 2:
per mile
Solving (a): Number of miles when both plans are equal
Represent the distance with x and the cost with y
So:
Plan 1:
Plan 2:
To solve (a), we equate both plans together; i.e.
Collect Like Terms
Solve for x
Hence, 100 mile would cost both plans the same
Solving (b): Cost when both plans are the same:
In this case, we simply substitute 100 for x in any of the y equation.
<em>Hence, the amount is $65</em>