# Samantha invests #$1000# at #6%# per annum compounded quarterly. Mark invests #$1200# at #5.5%# per annum compounded quarterly. When will the balances in their accounts be equal?

##### 1 Answer

The balances in the accounts will be equal in

#### Explanation:

For problems such as these, we use the formula

We have to write a system of equations and solve for

Equation 1:

Equation 2:

Substitute:

Solve using a graphing calculator. If you're using a TI-83 or a TI-84, change the t's to x's. Enter

You will of course want a positive intersection. Once you have moved your cursor sufficiently, press ENTER twice before the calculator will say *guess?* followed by INTERSECTION.

The result it gives you should say

Hopefully this helps!