Mike had $13,500 in his checkings account at the beginning of year 2021. Each year, the net value of his account increases by $8,400. If the value of the
checkings account t years after 2021 was between $33,500 and $43,000, which of the following must be true?
The amount A in the checkings account t years after 2021 can be modeled by a simple linear equation:
A=8,400t+13,500
We are trying to find the value of t when the amount is between 33,500 and 43,000.
33,500<A<43,000
33,500<8,400t+13,500<43,000
20,000<8,400t<26,500
2.38<t<3.51
The range 2<t<4 includes all values from our inequality above.
We can calculate the amount in the checkings account in the first few years.
t01234amount$13,500$21,900$30,300$38,700$47,100
The given amounts in our checkings account are $33,500 and $43,000, which are between t=2 and t=4.