Question

Tyra put a certain amount of money into a savings account. Then she started to save the same amount each month. After 8 months, she had $1680. After a YEAR, she had $2200.

Write an equation in slope-intercept form ( y=mx+b ) that models this scenario:

How much is she saving per month?


How much did she start with?

Answer 1

She saved $130 per month and she started with $640.

A linear equation is in the form:

y = mx + b;

where y, x are variables, m is the slope of the line and b is the y intercept.

Let y represent the total money Tyra has after x months.

After 8 months, she had $1680, hence:

1680 = 8m + b        (1)

After 1 year (12 months), she had $2200, hence:

2200 = 12m + b        (2)

Solving equation 1 and 2 simultaneously gives:

m = 130, b = 640

Therefore she saved $130 per month and she started with $640.

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