Question

You put some money in a bank account one year ago. You have not done anything with it since. The bank takes out a low balance fee of $0.25 each month. After 8 months, you had $28 in the account. Choose the equation that best shows the money in your bank account over time.

A.Balance = -0.25 • Months
B.Balance – 28 = -0.25(Months – 8)
C.Balance – 8 = -0.25(Months – 28)
D.Balance + 28 = -0.25(Months + 8)

Answer 1

Balance - 28 = -0.25 (Months - 8)

Explanation:

Answer 2

B. Balance - 28 = -0.25 (Months - 8)

Explanation:

Let us assume that initially there was '$a' in your bank account.

It says that bank takes out a low balance fee of $0.25 each month. After 8 months you found out that you had $28 in your account.

So over time you have lost $0.25 each month. If it has been 'm' months since the bank started deduction of low balance, then you must have lost,

`$0.25  * (m+8)`

`$0.25 (m + 8)`

You have left with $28.00. If there was '$a' in your bank account then altogether you had,

`\$(a + 28)`

So the money over time is,

`\$(a + 28)+\$0.25(m +8)`

`$(a + 28)=-\$0.25(m +8)`

Since 'a' is balance and 'm' represents months, so according to the math it should be:

Balance - (total deductions) =$28

And the total deductions over time is $0.25(months - 8)

Balance - 0.25(m - 8)=$28

Therefore,

Balance - 28 = -0.25 (Months -8) (provided that months is less than 8)

Therefore, option B is correct.