anonymous
  • anonymous
A college student is looking at her monthly checking account records. On September 1, 2008, her checking account held a balance of $1,050. At the end of March 2009, her checking account held a balance of $800. What is the monthly rate of change for the student’s checking account over the period September 1, 2008 through March 31, 2009? help please
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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schrodinger
  • schrodinger
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anonymous
  • anonymous
$250
anonymous
  • anonymous
i thought so . thanks
anonymous
  • anonymous
wait no thats wrong ...

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More answers

Jack1
  • Jack1
monthly charge 1st: how many months between Sept 1 2008 and March 31 2009?
anonymous
  • anonymous
6
Jack1
  • Jack1
yeah, but 7 including sept and march
Jack1
  • Jack1
sept oct nov dec jan feb mar
Jack1
  • Jack1
so initial balance was 1050 and final balance was 800 so amount lost is??
anonymous
  • anonymous
oh okay
Jack1
  • Jack1
all good ;)
anonymous
  • anonymous
but when i answered that it said i was wrong
Jack1
  • Jack1
yep, but it wants the answer as a monthly amount so $250 total lost in 7 months = 250/7 per month = about $35.71/month
Jack1
  • Jack1
is that what you got before?
anonymous
  • anonymous
yes
Jack1
  • Jack1
ok, so the answer isn't linear then 35.71 is based on a fixed rate of change per month so lets try a % based answer
Jack1
  • Jack1
so A = P (1+rt) Amount (A) = Principal (P) ( 1 + Rate(r) x Time (t) ) have u used this formula before?
Jack1
  • Jack1
800 = 1050 (1 + 7r) 800/1050 = (1 + 7r) r = -0.034 per month as a percentage = -3.4% per month
anonymous
  • anonymous
no i havent. but nevermind. thank you though, i appreciate your kindness ...
Jack1
  • Jack1
k sorry

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