MAX'S SAVINGS ACCOUNT MAX IS SAVING UP MONEY TO BUY A NEW BIKE. THEY
CURRENTLY HAVE $50 IN THEIR SAVINGS ACCOUNT. THEY PLAN
TO ADD $12 PER MONTH TO IT FROM THEIR ALLOWANCE.
CREATE A MODEL
FOR-THIS SITUATION
DEFINE THE VARIABLES:
LET X = THE AMOUNT OF TIME (IN MONTHS) IT TAKES TO REACH THE !
TOTAL THAT YOU WANT.
LET Y = THE TOTAL AMOUNT OF MONEY IN THEIR SAVINGS ACCOUNT
CREATE AN EQUATION FOR THE TOTAL AMOUNT OF MONEY THEY
HAVE IN THEIR SAVINGS ACCOUNT.
Y =
= RATE · TIME + INITIAL AMOUNT
170
USE THE MODEL TO SOLVE THIS PROBLEM FOR WHEN THE TOTAL IS
$134
$170
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