Question

An investment fund starts at $0 and grows at a rate of $100 per month. Another fund starts at $4000 and reduces by $720 per year. After how long will the funds have the same amount of money?

Answer 1

Answer:  2 years 1 month

Step-by-step explanation:

2 years 1 month at $100 a month = $2,500

$720 x 2 years = $1,440

$720 / 12 months = $60

$1,440 + $60 = $1,500

$4,000 - $1,500 = $2,500