Section 12 Homework: Problem 8 Previous Problem
Problem List
Next Problem
(3 points) Marcel decided to put $345 in his savings account at the end of every month. Find the amount he has at the end of 25 years, if the
account has an APR of 6.85% compounded monthly
Express your answer rounded correctly to the nearest cent!
$

So the first thing we do is to multiply the top equation by 3. the reason i want to do this is i notice there will be a 6y on both equations and can possibly add/subtract them. so we get 6y = -3x + 27. adding that and the second equation we get 6x = 27-15 which is 12. divide by 6 and we get 2. ∴ x = 2. substituting 2 into the first equation we get 2y = -2 + 9 which is 7. divide by 2 and we get 7/2. ∴ y = 7/2, x = 2.