A college student is looking at her monthly checking account records. On September 1, 2008, her checking account held a balance of $1,050. At the end of March 2009, her checking account held a balance of $800. What is the monthly rate of change for the student’s checking account over the period September 1, 2008 through March 31, 2009?
I count 7 months, so
rate of change per month = (800 - 1050)/7
= - $35.71
balance is declining at a rate of appr $36 per month
A college student is looking at her monthly checking account records. On September 1, 2008, her checking account held a balance of $1,050. At the end of March 2009, her checking account held a balance of $800. What is the monthly rate of change for the student’s checking account over the period September 1, 2008 through March 31, 2009?
the
To find the monthly rate of change for the student's checking account, we need to calculate the difference in the balance between September 1, 2008, and March 31, 2009, and then divide it by the number of months in between.
First, let's find the difference in the balance:
Balance on September 1, 2008 = $1,050
Balance on March 31, 2009 = $800
Difference in balance = $800 - $1,050 = -$250
The difference in balance is -$250, indicating a decrease in the checking account balance.
Next, let's find the number of months between September 1, 2008, and March 31, 2009:
September 2008 to March 2009 is a span of 7 months.
Now, we can calculate the monthly rate of change:
Monthly rate of change = Difference in balance / Number of months
Monthly rate of change = -$250 / 7
Dividing -$250 by 7 gives us approximately -$35.71.
Therefore, the monthly rate of change for the student's checking account over the period September 1, 2008, through March 31, 2009, is approximately -$35.71.