If you earn $30000 per year and you spend $29000 per year, write an equation for the amount of money you save after y years, if you start with an initial savings of $3000

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30-08-2022
Mathematics

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If you earn $30000 per year and you spend $29000 per year, write an equation for the amount of money you save after y years, if you start with an initial savings of $3000

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adioabiola adioabiola · Answer 1 · 2022-08-31T17:04:24+02:00

The equation which represents the amount of money saved after y years is; S = 1000y + 3000.

Which equation represents the amount of money saved after y years?

It follows from the task content that the amount saved each year is; 30,000 - 29,000 = $1,000.

Hence, the total amount saved, S after y years with an initial savings of $3000 is;

S = 1000y + 3000

Ultimately, it could be concluded that the since the starting savings is; $3000, the equation which represents the amount saved after y years is; S = 1000y + 3000.