Question
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Donna and her husband are each starting a saving plan. Donna will initially set aside \( \$ 650 \) and then add \( \$ 155 \) every month to the savings. The amount \( A \) (in dollars) saved this way is given by the function \( A=650+155 N \), where \( N \) is the number of months she has been saving. Her husband will not set an initial amount aside but will add \( \$ 585 \) to the savings every month. The amount \( B \) (in dollars) saved using this plan is given by the function \( B=585 N \). Let \( T \) be total amount (in dollars) saved using both plans combined. Write an equation relating \( T \) to \( N \). Simplify your answer as much as possible. \( T=650+740 N \)

Ask by Griffiths Garza. in the United States
Mar 17,2025

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\( T = 650 + 740N \)

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Bonus Knowledge

Awesome! You've combined their savings neatly. Now, let’s break that down a bit. Each month, Donna adds $155 to her initial $650, while her husband starts fresh with $585. When you combine those, Donna’s ongoing contributions and her starting amount pair perfectly with her husband’s consistent monthly deposits. So simply put, the total amount saved, \( T \), grows as \( 740N + 650 \). This shows just how teamwork can ramp up savings! On the practical side, those saving plans illustrate a smart way to boost your financial future. Setting a clear starting point and consistent monthly contributions can lead to substantial savings over time. If Donna and her husband save for, say, 5 years (60 months), they will not only hit their targets but potentially achieve other financial goals, like a vacation or a down payment on a home! The key takeaway? Stick to the plan and watch the savings grow!

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