Answer:
-The equation for this problem is:
y=50,000+20,000x
-The money in Sweet Sauce's account after July 31st is $190,000
-The money in the account after 2 years is $530,000.
Step-by-step explanation:
With the information provided, you can say that the money in the account would be equal to adding up the starting balance plus the profit per month for the number of months that have passed, which is:
y=50,000+20,000x, where:
y is the money in the account
x is the number of months that have passed
Now, to find the amount of money in the account after July 31st, you have to consider that this is the 7th month and you have to replace x with 7:
y=50,000+(20,000*7)
y=50,000+140,000
y=190,000
Also, to find the amount the amount of money in the account after 2 years, you have to consider that 2 years is equal to 24 months:
y=50,000+(20,000*24)
y=50,000+480,000
y=530,000
