Final answer:
To represent the situation where the bank will close the account if the balance falls below $50, we can use the inequality: balance < $50. To keep the account open, the balance must be greater than or equal to $50, which can be represented by the inequality: balance ≥ $50. In real life, we can use inequalities to represent situations such as budgeting.
Step-by-step explanation:
To represent the situation where the bank will close the account if the balance falls below $50, we can use the inequality:
balance < $50
This inequality states that the balance must be less than $50 for the account to be closed. To keep the account open, the balance must be greater than or equal to $50, which can be represented by the inequality:
balance ≥ $50
In real life, we can use inequalities to represent situations such as budgeting. For example, if you have a budget of $500 for a month and you want to ensure that you do not spend more than your budget, you can set up an inequality like:
expenses ≤ $500