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Rich and Fred spending money. Rich has $1,268,714 and is spending $2,742 per day. Fred, on the other hand, has $231,384 and is saving $100 per day. When will they have the same amount of money saved? How much will each have at that time? Homework Help ✎

Create a system of equations to represent the problem.

Equation 1: y = −2742x + 1268714

Write the other equation and solve.