Isabelle has $1520 in her bank account and makes automatic $760 monthly payments on a home loan. If she stops making deposits to

Question

3 years ago

9

that account, when would the automatic payments make the value of the account zero?

1 answer:

Leto [7] · Answer 1 · 2022-02-01T13:14:56+03:00

Answer:

After 2 months

Step-by-step explanation:

Isabelle has $1520 in her bank account and she makes automatic $760 monthly payments on a home loan.

If she stops making deposits to that account, then a monthly $760 will be deducted from her account.

After 1 month the balance in her account will become $[ 1520 - 760 ] = $760 and then after 2 months the balance will become $[ 760 - 760 ] = $0

Therefore, after 2 months her account will have zero balance. (Answer)