Question

Every month, Mrs. Greene pays her mortgage through automatic payments (withdrawals) from her checking account. She pays the same amount on her mortgage each month. At the end of the year, her checking account balance changed by -$13,105 from payments made on her mortgage. What is the change in Mrs. Greene's checking account balance each month due to her mortgage payment?

Answer 1

The change in Mrs. Greene's checking account balance each month due to her mortgage payment is approximately -$1092.08.

Step-by-step explanation:

To find the change in Mrs. Greene's checking account balance each month due to her mortgage payment, we can divide the total change in her balance by the number of months in a year. The total change in her balance is -$13,105, and there are 12 months in a year. So the change in her checking account balance each month is:

Change per month = Total change / Number of months

Change per month = -$13,105 / 12 = -$1092.08 (rounded to two decimal places).