Question

Cheryl signs up for a savings account that guarantees an increase in her savings at a fixed rate of $15 per month. She plans to withdraw the money when it is more than twice the original amount of $200. Find the least number of complete months that Cheryl has to keep the money in the account for.

Answer 1

Answer: 14 months.

Explanation:

Given: Original amount = $ 200

Fixed rate of growth = $15 per month

Let x be the number of months that Cheryl has to keep the money in the account for.

Then,
`200+15x=2(200)`

`\Rightarrow\ 200+15x>400\\\\\Rightarrow\ 15x >400-200\\\\\Rightarrow\ 15x>200\\\\\Rightarrow x>(200)/(15)\\\\\Rightarrow x>13.333333\\\\\Rightarrow\ x=14`

Hence, it will take 14 months .