# How much money does Lucy have?

• MHB
• Yazan975
In summary, the conversation involves finding the amount of money Lucy has after receiving an additional $20 from her grandmother, based on the given equations. By substituting for her initial amount and using the given equation for the new amount, it can be determined that Lucy has$60.
Yazan975
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What I did is:

L/2 +20 = 3/5M

L/2+20=6/5L+20

5L+200=12L+200(after putting all of them to common denominator)

I got stuck here

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Yazan975 said:
- - - Updated - - -

What I did is:

L/2 +20 = 3/5M

L/2+20=6/5L+20

5L+200=12L+200(after putting all of them to common denominator)

I got stuck here

I would let $$L$$ be the amount of money Lucy had initially and $$M$$ be the amount of money Mel had initially. From the information given about their initial amounts, we may state:

$$\displaystyle L=\frac{1}{2}M\implies M=2L$$

$$\displaystyle L+20=\frac{3}{5}(M+20)$$

Substitute for $$M$$:

$$\displaystyle L+20=\frac{3}{5}(2L+20)$$

Can you proceed?

Hi Yazan975! ;)

Originally we had L = M/2.
Then Grandma gave each an additional \$20, after which it became 3/5th. So (L + 20) = (M + 20) x 3/5. Since the question asks for what Lucy has now, we need to find (L + 20). EDIT: beaten to it by Mark. MarkFL said: I would let $$L$$ be the amount of money Lucy had initially and $$M$$ be the amount of money Mel had initially. From the information given about their initial amounts, we may state: $$\displaystyle L=\frac{1}{2}M\implies M=2L$$ $$\displaystyle L+20=\frac{3}{5}(M+20)$$ Substitute for $$M$$: $$\displaystyle L+20=\frac{3}{5}(2L+20)$$ Can you proceed? The answer sheet I have says Lucy has$60
I can't get there.

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Yazan975 said:

## 3. Where does Lucy get her money from?

Lucy's income can come from various sources such as a job, investments, inheritance, or government assistance.

## 4. How much money does Lucy need for retirement?

The amount of money Lucy needs for retirement depends on factors such as her desired lifestyle, current age, and retirement age. A general rule of thumb is to save at least 10-15% of your income for retirement.

## 5. Does Lucy have any outstanding debts?

This information would depend on Lucy's personal financial situation. She may have debts such as student loans, credit card debt, or a mortgage. It is important to manage and pay off debts in a timely manner to maintain a healthy financial status.

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