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JoeNah, Dekobian and Evan wrote equations to calculate the amount of
money in a savings account after one year with 5% interest paid annually on
an investment of M dollars. Let B represent the balance of money saved.
JoeNah's Equation: B = 1.5M
Dekobian's Equation: B = M+ 0.05M
Evan's Equation: B = M(1+0.05)
The three students decided to see if their equations would give the same
answer by using a $100 balance. Find the total amount of money in the
savings account using each student's equation. Show your work.​

Respuesta :

calculista

Answer:

see the explanation

Step-by-step explanation:

Let

B ---> the balance of money saved.

M ---> the amount invested in dollars

we have

JoeNah's Equation

[tex]B=1.5M[/tex]

For M=$100

substitute in the equation

[tex]B=1.5(100)=\$150[/tex]

Dekobian's Equation

[tex]B=M+0.05M[/tex]

For M=$100

substitute in the equation

[tex]B=100+0.05(100)=\$105[/tex]

Evan's Equation

[tex]B=M(1+0.05)[/tex]

For M=$100

substitute in the equation

[tex]B=100(1+0.05)=\$105[/tex]

In this problem

Dekobian's Equation and Evan's Equation are correct

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