Jacob opens a savings account on January 1 with a deposit of $350. He has "direct deposit," in which $25 is deposited every other week. The bank also charges a $3 monthly processing fee. How much money will he have at the end of the year?

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To calculate how much money Jacob will have at the end of the year, we need to consider the initial deposit, the periodic direct deposits, and the monthly processing fee.

1. Initial Deposit: Jacob opens the savings account with a deposit of $350.

2. Direct Deposits: Jacob receives a direct deposit of $25 every other week. Since there are 52 weeks in a year, we can calculate the number of direct deposits he will receive. In this case, there are 52 / 2 = 26 direct deposits in a year. Therefore, the total amount he will receive from direct deposits is 26 direct deposits * $25 = $650.

3. Monthly Processing Fee: The bank charges a $3 monthly processing fee. Since there are 12 months in a year, the total processing fee for the year will be 12 months * $3 = $36.

Now, let's calculate the final amount:

Initial deposit: $350
Direct deposits: $650
Processing fee: -$36

Total = $350 + $650 - $36 = $964

Therefore, at the end of the year, Jacob will have $964 in his savings account.