Question

To avoid a service​ fee, your checking account balance must be at least ​$500 at the end of each month. Your current balance is ​$525.17. You use your debit card to spend ​$117.08. What possible amounts can you deposit into your account by the end of the month to avoid paying the service​ fee?

Answer 1

Answer: At least $91.91

Explanation:

From the question, we are informed that to avoid a service​ fee, the checking account balance must be at least ​$500 at the end of each month.

Since the current balance is ​$525.17 and $117.08 has been spent, the balance will now be:

= $525.17 - $117.08

= $408.09

Since the checking account balance must be at least ​$500 at the end of each month and we currently have $408.09, this means that there will still be a need to add $91.91.

= $500 - $408.09

= $91.91

At least $91.91 must be added to avoid the fee.