Question

Kevin's savings account balance changed from $1540 in January to $1870 in April. Find the average rate of change per month.

Answer 1

110 per month

Explanation:

To find the average rate of change per month, we can use the following formula:

`\sf \textsf{Average rate of change }= \frac{ \textsf{final value - initial value}}{\textsf{number of months}}`

In this case, the final value is $1870, the initial value is $1540, and the number of months is 4 - 1 = 3.

Now,

Substitute the given value and simplify it.

`\begin{aligned} \textsf{Average rate of change } & = \frac{ \$1870 - \$1540}{3 \textsf{ months }} \\\\ & = \frac{\$330}{ 3 \textsf{ months }} \\\\ & = \$110 \textsf{ per month}\end{aligned}`

Therefore, the average rate of change of Kevin's savings account balance is $110 per month.