Question

Javier had $305 in his bank account. His bank charges a fee of $7.50 each month that a balance is below $500. If he makes no other deposits or withdrawals, how much money is in Javier’s account at the end of three months? Explain

Answer 1

The answer is $282.50

Take the monthly fee and multiply by three. 7.50 x 3 = 22.50.

Now subtract the fee after three months by what is currently in the account.

$305.00 - $22.50 = $282.50