SOLUTION: Your teacher's savings account has a $10 a month fee if her balance falls below $1,000. Her account has a balance of $1,283.78 and she withdrawals $290. What is her balance 6 month

Question 1166937: Your teacher's savings account has a $10 a month fee if her balance falls below $1,000. Her account has a balance of $1,283.78 and she withdrawals $290. What is her balance 6 months later?
Found 3 solutions by josgarithmetic, ikleyn, timofer:
Answer by josgarithmetic(39633)   (Show Source): You can put this solution on YOUR website!

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Balance SIX MONTHS LATER only if no other transactions:

The extra 10 taken out as fee is because the current discussed month has the first fee. Counting the next six months will count six more of these ten dollar fees.
Answer by ikleyn(52949)   (Show Source): You can put this solution on YOUR website!
.
Your teacher's savings account has a $10 a month fee if her balance falls below $1,000.
Her account has a balance of $1,283.78 and she withdrawals $290. What is her balance 6 months later?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

        Unfortunately, the problem missed to disclose a criterion, according to which it is determined
        that the balance is below $1,000. It can be the balance on the last day of a month, or, alternatively,
        the average balance per month.

        But since the problem does not disclose a precise criterion, I will assume that the balance on the last day
        of the month is the criterion. It is very natural and very consistent with the problem to think so.

        OK. Armed with this assumption, let' start the solution.

Let's assume that the teacher withdrawals $290 on February, 25. So, the day 6 months later is August, 25, and we should find out the teacher's balance on August, 25. Let's make a timebook with balances, as shown below. Feb.25 $1283.78 - $290 = $993.78. At the end of February, $10 subtracted. The rest is $983.78. Mar.25. No withdrawals. At the end of Match, $10 subtracted. The rest is $973.78. Apr.25. No withdrawals. At the end of April, $10 subtracted. The rest is $963.78. May 25. No withdrawals. At the end of May, $10 subtracted. The rest is $953.78. June 25. No withdrawals. At the end of June, $10 subtracted. The rest is $943.78. July 25. No withdrawals. At the end of July, $10 subtracted. The rest is $933.78. Aug. 25. No withdrawals. On August, 25, the teacher has $933.78 at her account. ANSWER. The teacher's balance 6 months later is $933.78.

Solved.

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I was taught as a child that it is bad manners to count money in someone else's pocket.
Especially when the other person is so reputable and respectful person as a teacher (my teacher !)
Therefore, I didn't even attempt to solve this problem.
But when I saw another tutor's incorrect solution, giving $923.78 as the answer,
I couldn't contain myself anymore.   May my teachers forgive me . . .

Answer by timofer(111)   (Show Source): You can put this solution on YOUR website!
That looks like could be or, maybe.
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