Olivia has $240 in her bank account. Each month, her bank deducts a $12.50 fee for maintaining a balance below $250. If Olivia makes no other deposits or withdrawals, how much money will be in her account at the end of five months.

Question

Mathematics

Adrianna Shaffer

23 September, 09:14

Olivia has $240 in her bank account. Each month, her bank deducts a $12.50 fee for maintaining a balance below $250. If Olivia makes no other deposits or withdrawals, how much money will be in her account at the end of five months.

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Answers (2)

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Matthew · Answer 1

Olivia will have $177.50 in the end of five months after all fees.

Peyton Downs · Answer 2

Let's find the equatio first to represent this problem.

240-12.50x=y

X is the number of months, and y is the remaining amount of money in her account. We're are looking for 5 months, so let's plug in 5 for x.

240-12.50 (5) = y

240-62.5=y

177.50=y

Olivia will have $177.50 at the end of five months.