PLS HELP Leo is looking at two different savings plans. The first plan requires an initial deposit of $500 and grows at an annual interest rate of 2.5%. The second plan requires an initial deposit of $400 and interest grows continuously at a rate of 2% per year. Leo wrote a system of equations to represent the account balance of either plan, y, after x years. Which two equations are part of the system?
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Equations are mathematical statements containing two algebraic expressions on both sides of an 'equal to (=)' sign. It shows the relationship of equality between the expression written on the left side with the expression written on the right side. In every equation in math, we have, L.H.S = R.H.S (left hand side = right hand side).

Parts of an Equation

There are different parts of an equation which include coefficients, variables, operators, constants, terms, expressions, and an equal to sign. When we write an equation, it is mandatory to have an "=" sign, and terms on both sides. Both sides should be equal to each other. An equation doesn't need to have multiple terms on either of the sides, having variables, and operators. An equation can be formed without these as well, for example, 5 + 10 = 15. This is an arithmetic equation with no variables. As opposed to this, an equation with variables is an algebraic equation. Look at the image below to understand the parts of an equation.

Initial deposit (P) = 500

Annual interest rate (r) = 2.5%

Account balance after x years, y = P(1+r/100)^×

y = 500(1+2.5/100^)×

y = 500(1+0.025)^×

y = 500(1.025)^×

again,

Initial deposit (P) = 400

Annual interest rate (r) = 2%

Account balance after x years, y = P(1+r/100)×

y = 400(1+2/100)^×

y = 400(1+0.02)^×

y = 400(1.02)^×

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