Question

Many bank accounts never go below zero. But some banks will allow a negative balance, at least for a short time, called an overdraft. It means someone has taken out, or 'drafted', more money than was in the account to begin with. Jason's account has gone into overdraft. His balance is $-48.82. To get back to a positive balance, he plans to deposit money at a steady rate of $28.55 per week. How much will be in his account after 3 weeks?

Answer 1

the amount after 3 weeks is $37.33

Explanation:

Given that

His balance is -$48.82 i.e. overdraft

Now in order to get the positive balance, he plans to deposit the money of $28.55 per week

We need to find out the amount after 3 weeks

So,

= -$48.32 + $28.55 + $28.55 + $28.55

= $37.33

hence, the amount after 3 weeks is $37.33