Sorry to be a pain. The teacher hasn't explained it to me because I am the teacher. This problem was on a state teacher exam (middle school math). They didn't ask for an exact solution. Each equation was a formula for computing employee bonuses. The problem was to figure out which formula was most beneficial to workers in which years, from x=1 to x=20.
I just got to wondering, since the lines cross, how you could find exactly WHERE they cross. The word "iteration" implies maybe calculus could solve it? I will go and ask some friends.