Question

Problem 3 A bank charges a service fee of $7.50 per month for a checking account. A bank account has $85.00. If no money is deposited or withdrawn except the service charge, how many months until the account balance is negative

Answer 1

12 months

Explanation:

85-7.50x

At 11 months, the charges will add up to $82.50, so you know what after 12 months the account will be in the negative. At 12 months, the charges will be at $90, which means the account will have a balance of -$5