Thursday

August 28, 2014

August 28, 2014

Posted by **Linda** on Tuesday, October 23, 2007 at 7:09pm.

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 7:55pmAt 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.1--I'll let you finish this one.

Jan.1st $X

Feb.1st 2X - 10

Mar.1st

- Math -
**Anonymous**, Tuesday, October 23, 2007 at 8:32pmthanks

- Math -

**Related Questions**

Foundations Math 12 - Mark wants to buy a car in 15 months, when he graduates. ...

College level math - Suppose you deposit $100 in an account that earns 0.5% each...

math - Jacob opens a savings account on January 1 with a deposit of $350. He has...

math - Jacob opens a savings account on January 1 with a deposit of $350. He has...

math - Samantha opened a savings account and deposited some money into the ...

pre algebra - At the beginning of the year 2000, Bob put $100 in a savings ...

consumer math - You owe $1,350.00 on a credit card with a 14.25% APR. You pay $...

math - The Pirerras are planning to go to Europe 5 yr from now and have agreed ...

Finite Mathematics - Jessica wants to accumulate $14,000 by the end of 5 yr in a...

math - chris put $1,500 in a savings account at an annual interest rate of 5%. ...