Savings Plan and Equations

The video tutorial explains how to define a variable and write expressions for two different savings plans. Person A starts with $505 and saves $80 monthly, while Person B starts with $730 and saves $55 monthly. The tutorial demonstrates how to set up an equation to determine after how many months their savings will be equal. It then walks through solving the equation step-by-step, resulting in the solution that after nine months, both will have $1,225. The video concludes by verifying the solution through substitution.

What variable is used to represent the number of months in the savings plan problem?

• x

• y

• n

• m

How much does Person A save per month?

• $55

• $80

• $100

• $505

What is the initial amount Person B starts with?

• $505

• $55

• $730

• $80

Which expression represents Person A's total savings after m months?

• 505 + 80m

• 730 + 55m

• 505m + 80

• 730m + 55

What equation is set up to find when both savings are equal?

• 80m = 55m

• 505m + 80 = 730m + 55

• 505 = 730

• 505 + 80m = 730 + 55m

What is the first step in solving the equation for m?

• Add 505 to both sides

• Divide both sides by 80

• Subtract 55m from both sides

• Multiply both sides by 25

After isolating the variable term, what is the next step to solve for m?

• Divide by 55

• Multiply by 25

• Subtract 505 from both sides

• Add 730 to both sides

What is the value of m when both savings are equal?

• 8

• 9

• 7

• 10

What is the total savings amount for both individuals after 9 months?

• $1,000

• $1,100

• $1,500

• $1,225

How can you verify the solution to the savings problem?

• By using a different variable

• By changing the savings rate

• By substituting m into the expressions

• By checking the initial amounts