Question

Tara has a savings account at a bank that charges a $3.75 fee for every month her balance falls

below $2,500. Her account has $2.722 and then she withdraws $300. What is her balance in 5
months if her account balance never reaches $2,500?

Answer 1

The answer is:

Explanation:

First she has $2,722 in the bank and withdraws 300, leaving a balance of:

$2,722 - 300 = $2,422

The monthly fees are $3.75 per month. For 5 months the fees would be:

$3.75 * 5 = $18.75

If everything stays the same, that is her account remains at this amount minus the fees, she will have the lower balance mins 5 months of fees:

$2,422 - $18.75 = $2,403.25

Hope this helps! Have a great day!