Question

Suppose you deposit $12.50 into your savings account each week for 4 weeks and then withdraw $4.80 each week for the next two weeks. Find the total change in the amount of money in your account.

Answer 1

Answer:

The total change in the amount of money in my account is $ 9.60

Step-by-step explanation:

Given:

Amount of money deposited each week, $A_{d}=\ 12.50$

Amount of money withdrawn each week, $A_{w}=\ 4.80$

∴ Amount of money deposited in 4 weeks, $A_{dT}=A_{d}\times 4=12.50\times 4 = \ 50$

∴ Amount of money withdrawn in 2 weeks, $A_{wT}=A_{w}\times 4=4.80\times 2 = \ 9.6$

Now, amount of money left in the account is the difference of the two amounts.

So, amount left = $A_{dT}-A_{wT}=50-9.6=\ 40.4$

Therefore, the total change in the amount of money in my account is given as:

Total change = Initial amount after 4 weeks - Final amount in the account.

Total change = $ 50 - $40.4 = $ 9.6