SOLUTION: Alyson opened a savings account with a deposit of $600. She withdrew $15 each day for the next 5 days, and then deposited her entire paycheck from Barney's Bagels, bringing her bal
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-> SOLUTION: Alyson opened a savings account with a deposit of $600. She withdrew $15 each day for the next 5 days, and then deposited her entire paycheck from Barney's Bagels, bringing her bal
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Question 265497: Alyson opened a savings account with a deposit of $600. She withdrew $15 each day for the next 5 days, and then deposited her entire paycheck from Barney's Bagels, bringing her balance to $750. Then she remembered that she had promised to donate 25% of her paycheck to charity. How much should she withdraw from savings? Answer by Theo(13342) (Show Source):
She deposits her paycheck and is left with $750.00 in the bank.
Her paycheck must have been $750.00 minus $525.00 = $225.00
That's because $525.00 plus $225.00 = $750.00
She had promised to donate 25% of her paycheck to charity.
This means she had promised to donate .25 * $225.00 = $56.25 to charity.
She needs to withdraw $56.25 from her bank account.
She is then left with $750.00 minus $56.25 = $693.75 in her bank account.
The answer to the question is that she needs to withdraw $56.25 from savings.
Looking at it another way:
She had $525.00 in the bank when she got her paycheck.
If she paid the $56.25 right away, then she would only have been able to deposit $225.00 - $56.25 = $168.75 which would have brought her bank total up to $525.00 + $168.75 = $693.75
Either way she pays the $56.25 and is left with $693.75 in the bank after all is done.
