Question

You need to have at least $100 in your checking account to avoid a low balance fee. You have $247 in your account, and you make withdrawals of $20 per week. What are the possible numbers of weeks that you can avoid paying the fee? Solve this problem using two different methods. PLEASE HELP

Answer 1

Okay, so you need at least $100 in your account to avoid the fee.

You currently have $247.

And you also take out $20, every week.

So first, work out the maximum amount of money you can take out before reaching the limit. (247 - 100 = 147).

Now that we know you can take out $147 max, you just need to divide it by $20, because that's how much you take out every week. (147 ÷ 20 = 7.35 weeks.) But of course, the question is asking for the answer in weeks, so you round the answer down to 7 weeks.

You can last 7 weeks by taking out $20 every week from your $247 balance to avoid the low balance fee.