Question

Suppose you can get a higher interest rate on your savings if you maintain a balance of at least $1000 in your savings account. The balance of your account is now $1058. You deposit $44.50 into your account. What is the greatest amount that you can withdraw and still get the higher interest rate?

Answer 1

1058+44.50 =1102.5
1102.5-1000=102.5
102.5 is your anwser

Answer 2

Answer:

$102.5

Step-by-step explanation:

∵ The balance of the account = $ 1058,

After depositing $ 44.50 in the account,

Balance of the account = 1058 + 44.50 = $ 1102.5,

Let x be the amount ( in dollars ),

Which is withdrawn from the account,

So, the final balance of the account  = (1102.5-x) dollars

∵ For getting higher interest rate,

Balance ≥ $ 1000,

⇒ 1102.5-x ≥ 1000

⇒ 1102.5 ≥ 1000 + x

⇒ 1102.5 - 1000 ≥ x

⇒ 102.5  ≥ x

Hence, the greatest amount that can withdraw would be $102.5