Answer:
The statement is not true because her final balance after 2 years = 24 months is less than her balance after 11 month, and the amount she withdraws every month is approximately $3,833.4
Step-by-step explanation:
The amount Linda saves after 11 months = $50,890
The amount she has in her balance after 2 years = $1,056
Let the equation representing how much Linda saves, 'y', be represented as follows;
y = m·x + c
Where;
x = The number of months
c = Her initial balance (her first deposit)
m = The amount she saves each month
When x = 11, we have;
50,890 = 11·m + c...(1)
When x = 24 (2years), we have;
1,056 = 24·m + c...(2)
Subtracting equation (1) from (2) gives;
1,056 - 50,890 = 24·m - 11·m + c - c
-49,834 = 13·m
m = -49,834/13 ≈ -3,833.4
Therefore, the amount she deposit (withdraws) every month = ($3,833.4)
Therefore, the statement is not true because her final balance after 2 years = 24 months is less than her balance after 11 month, she is withdrawing from her balance every month based on the given account balance.
