Question

Linda's savings account has fallen below the $1,000 minimum balance required to receive interest. it is currently $871.43. The monthly fee charged by the bank for falling below the minimum is x dollars. Express algebraically how you compute the number of months it will take Linda's account to reach a zero balance if she makes no deposits. Explain. If x=9, how many months will it take?

Answer 1

Hello!

Since Linda has 871.43 and the subtract “x” money every month the equation is... 0=871.43-x*y where “x” is the monthly fee and y is the number of months that have passed. If x=9 meaning the monthly fee is 9 dollars a month, then in the equation you put x=9 to get 0=871.43-9y and solve for y, number of months.

9y=871.43

y=96.83 or about 97 months.

I hope I could help! :)