balance

Charlie has $2700 in his bank account. He spends $150 a week. How many weeks will have passed when Charlie has $600 in his bank account? Let w be the weeks that pass. We have the following equation for Charlie's balance: 2700 - 150w = 600 To solve for w, we type this equation into our math...

Last month, my saving account was balance was $1,000. since then, i spent x dollars from my saving Spending means reducing our balance, so we have a new balance of: 1000 - x

$1,100 per month for 10 years, if the account earns 2% per year What the student or parent is asking is: If they deposit $1,100 per month in a savings/investment account every month for 10 years, and they earn 2% per year, how much will the account be worth after 10 years? Deposits are...

Deon opened his account starting with $650 and he is going to take out $40 per month. Mai opened up her account with a starting amount of $850 and is going to take out $65 per month. When would the two accounts have the same amount of money? We set up a balance equation B(m) where m is the...

A retired couple invested $8000 in bonds. At the end of one year, they received an interest payment of $584. What was the simple interest rate of the bonds? For simple interest, we have: Balance * interest rate = Interest payment 8000i = 584 Divide each side of the equation by 8000 to isolate...

Alana puts $700.00 into an account to use for school expenses. The account earns 8% interest, compounded annually. How much will be in the account after 4 years? We use our balance with interest calculator and we get: $958

You deposit $750 in an account that earns 5% interest compounded quarterly. Show and solve a function that represents the balance after 4 years. The Accumulated Value (A) of a Balance B, with an interest rate per compounding period (i) for n periods is: A = B(1 + i)^n Givens 4 years of...

Julio had $20 in his account. He made two withdrawals of $15 and $25, and then he deposits $28. What is his account balance now? Note: Balances add and Withdrawals subtract. So we have: 20 - 15 - 25 + 28 8

Jenny has $1200 and is spending $40 per week. Kelsey has $120 and is saving $50 a week. In how many weeks will Jenny and Kelsey have the same amount of money? Jenny: Let w be the number of weeks. Spending means we subtract, so we set up a balance equation B(w): B(w) = 1200 - 40w Kelsey: Let w...

A $1,000 investment takes a 10% loss each year. What will be the value 3 years? 10% is 0.1. Our Balance function B(y) where y is the number of years since the start is: B(y) = 1000(1 - 0.1)^y B(y) = 1000(0.9)^y We want to know B(3): B(3) = 1000(0.9)^3 B(3) = 1000(0.729) B(3) = 729

Dwayne wants to start a saving account at his local credit union. If he puts $8000 into a savings account with an annual interest rate of 1.1%, how much simple interest will he have earned after 6 years? Using our simple interest calculator, we get: $528 of interest earned.

Joe opens a bank account that starts with $20 and deposits $10 each week. Bria has a different account that starts with $1000 but withdraws $15 each week. When will Joe and Bria have the same amount of money? Let w be the number of weeks. Deposits mean we add money and withdrawals mean we...

If you have $272, and you spend $17 each day, how long would it be until you had no money left? Let d be the number of days. We have a balance expression of: 272 - 17d We want to know when the balance is 0, so we set 272 - 17d equal to 0. 272 - 17d = 0 To solve for d, we type this equation...

Jenny has $40 in her checking account. If she writes a check for $19 find her new account balance Writing a check means we take out of the account, so we subtract: Balance = $40 - $19 Balance = $21

$4700 at 3.5% for 6 years compounded monthly 6 years = 12*6 = 72 months or compounding periods. Using our balance with interest calculator, we get a final balance of: $5,796.51

Matt has $100 dollars in a checking account and deposits $20 per month. Ben has $80 in a checking account and deposits $30 per month. Will the accounts ever be the same balance? explain Set up the Balance account B(m), where m is the number of months since the deposit. Matt: B(m) = 20m + 100...

6700 dollars is placed in an account with an annual interest rate of 8%. How much will be in the account after 24 years, to the nearest cent? Using our balance with interest calculator, we get: $42,485.94

On Melissa 6 birthday she gets a $2000 cd that earns 4% interest, compounded semiannual. If the cd matures on her 16th birthday, how much money will be available? Semiannual compounding means twice a year. With 16 - 6 = 10 years of compounding, we have: 10 x 2 = 20 semiannual periods. Using...

$13 in the bank. You write a check for $17. What is your balance? When you write a check, it's a debit against your account, which means we subtract. So we start with $13. We subtract $17 Our balance is $13 - $17 = -$4

A principal of $3300 is invested at 3.25% interest, compounded annually. How much will the investment be worth after 10 years? Using our balance calculator with compound interest, we get: $4,543.75