Question

Suppose you deposit $12.50 into your savings account each week for 4 weeks and then withdraw $4.80 each week for the next two weeks. Find the total change in the amount of money in your account.

Answer 1

The total change in the amount of money in my account is $ 9.60

Explanation:

Given:

Amount of money deposited each week,
`A_(d)=\$12.50`

Amount of money withdrawn each week,
`A_(w)=\$4.80`

∴ Amount of money deposited in 4 weeks,
`A_(dT)=A_(d)* 4=12.50* 4 = \$50`

∴ Amount of money withdrawn in 2 weeks,
`A_(wT)=A_(w)* 4=4.80* 2 = \$9.6`

Now, amount of money left in the account is the difference of the two amounts.

So, amount left =
`A_(dT)-A_(wT)=50-9.6=\$40.4`

Therefore, the total change in the amount of money in my account is given as:

Total change = Initial amount after 4 weeks - Final amount in the account.

Total change = $ 50 - $40.4 = $ 9.6