Posted by Linda on Tuesday, October 23, 2007 at 7:09pm.
Can you help me with this problem?
At the beginning of January, Lisa had some money in her savings account. Each month she was able to deposit enough from her allowance to double the amount currently in the account. However, she had a loan to pay off, requiring her to withdraw $10 from the account monthly. At the end of May, she had $2 left in the account. How much did Lisa have at the beginning of January?

Math  tchrwill, Tuesday, October 23, 2007 at 7:55pm
At the beginning of January, Lisa had some money in her savings account. Each month she was able to deposit enough from her allowance to double the amount currently in the account. However, she had a loan to pay off, requiring her to withdraw $10 from the account monthly. At the end of May, she had $2 left in the account. How much did Lisa have at the beginning of January?
It depends on when the money was doubled, before or after the $10.00 was paid out.
One way:
Jan.1$X
Feb.1$2X  10
Mar.1$(4X  20)  10 = (4X  30)
Apr.1$(8X  60)  10 = (8X  70)
May 1$(16X  140)  10 = (16X  150)
16X  150 = 2 or X = $9.50
The other way:
Jan.1$X
Feb.1$(X  10)2
Mar.1$[(X  10)2  10]2
Apr.1I'll let you finish this one.
Jan.1st $X
Feb.1st 2X  10
Mar.1st

Math  Anonymous, Tuesday, October 23, 2007 at 8:32pm
thanks
Answer This Question
Related Questions
 Math  At the beginning of the summer Molly decided to add a little money into ...
 Math  (a) Themba wants to deposit a sum of money into a savings account so that...
 Math  Jimmy opens a savings account with a $200 deposit at the beginning of the...
 math  Samantha opened a savings account and deposited some money into the ...
 math  A friend opens a savings account by depositing $1000. He deposits an ...
 math  A friend opens a savings account by depositing $1000. He deposits an ...
 Math  A friend opens a savings account by depositing $1000. He deposits an ...
 College level math  Suppose you deposit $100 in an account that earns 0.5% each...
 math  Nathan deposited 7/9 of his allowance into his savings account. He spent ...
 Math  If you deposit P dollars into a bank account paying an annual interest ...
More Related Questions