Lindas savings account balance has fallen below the $1,000 minimum balance required to receive interest. It is
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Linda’s savings account balance has fallen below the $1,000 minimum balance required to receive interest. It is currently $871.43. The monthly fee charged by the bank for falling below the minimum is x dollars. Express algebraically how you compute the number of months it will take Linda’s account to reach a zero balance if she makes no deposits. Explain. If x = 9, how many months will it take?
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Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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