Question

Your local bank offers free checking for accounts with a balance of at least 500 dollars. Suppose you have a balance of 516.46 dollars and you write a check for 31.96 dollars. How much do you need to deposit to avoid being charged a service fee? Write an Inequality and solve it.

Answer 1

You need to deposit a minimum of $15.50 to avoid being charged a service fee.

`\text{ \$15.50}`

Step-by-step explanation:

Let x represent the amount needed to be deposited to avoid being charged a service fee.

Given;

Initial balance = 516.46 dollars

Amount on cheque to be withdrawn = 31.96 dollars

Minimum amount to avoid being charged = 500 dollars

So we have;

`\begin{gathered} 516.46-31.96+x\ge500 \\ 484.50+x\ge500 \\ x\ge500-484.50 \\ x\ge15.50 \\ x\ge\text{ \$15.50} \end{gathered}`

Therefore, you need to deposit a minimum of $15.50 to avoid being charged a service fee.

`\text{ \$15.50}`