Question

Michael had $550 in his savings account. He took out $30.75 every month for one year. What is the net change in Michael's account balance following these withdrawals?

Answer 1

369 Has been taken out in total. He had 550 in his savings, so 550 - 369 is 181. He 181 USD left, and the net change is -$369 USD.

Explanation:

Answer 2

$30.75 x 12 = 369
$550-$369 =$181