Mathematics, 25.11.2020 05:40 rachellynn02
On January 1, 2010, Joline deposits $1000 in a bank account that does not earn interest. For the next 12 months she deposits $25 each month. Then she withdraws $25 each month for the next 12 months. On January 1, 2010, Sofia deposits $1100 in an account that earns 0.25% interest each month.
a. Write two models: one for the amount in Joline's account and one for the amount in Sophia's account. State what the variables in your models represent.
b. In what months and years do the accounts have approximately the same amount, and what are the amounts?
Answers: 3
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