Question

Mick has a savings account with $800.00 in it. Every month, he withdraws $75.00 to pay for his cell phone. What is the maximum number of months that Mick can withdraw the money without allowing his savings account to drop below $125.00?

Answer 1

Explanation:

Given:

Principal amount in his account, A = $800

Cell phone bill, c = $75

Constraint:

Balance left < $125

Let the total amount of cell phone bill at a given time, x be 75 × x

= 75x

Balance left = 125

Maximum amount that can be spent on monthly cell phone bills = principal amount - balance

= 800 - 125

= $675

Therefore, number of months, x;

675 = 75x

Solving for x,

x = 675/75

= 9 (times) months

maximum number of months that Mick can withdraw the money without allowing his savings account to drop below $125.00 is 9 months.

Answer 2

Answer: 9 months.

Step-by-step explanation: mick has a total of $800 in his account and withdraws $75 every month.

He needs to have $125 dollars in his account at least.

Hence the maximum amount that he can spend is ($800 - $125) = $675

So the maximum amount he can spend is $675.

If he withdraws $75 monthly, then the number of months he will will use in withdrawing $675 is

675/ 75 = 9

So he has 9 months to withdraw his savings ($75 dollars monthly) without allowing his savings account drop below $125.