math

Dan has saved $500. He wants to open a chequing account at Save-A-Lot Trust or Maple Leaf Savings. Save-A-Lot Trust's chequing account is $10 per month plus $0.75 per cheque. Maple leaf savings' chequing account is $7 per month plus $1.00 per cheque. Which financial institution charges less per month?

So let x represent number of cheques used and y represent charge.
y=10+0.75x is Save A Lot..,y=7+1x is Maple Leaf..

10+0.75x=7+1x
0.75x-1=-10+7
-0.25x=-3
-0.25=-3
----------
-0.25=-3
x=12

I don't know what to do after this.. Please help.

  1. 👍 1
  2. 👎 1
  3. 👁 1,169
  1. Typo.. when I was dividing, -3 should be -0.25 .

    1. 👍 0
    2. 👎 1
  2. The question is poorly worded, since it leaves out the cost of the checks.

    You've gone as far as you can. Clearly, $7/mo is less than $10/mo, but you have to factor in the number of checks.

    You have found that at 12 checks, the cost is the same for both banks. Any more than that, and Maple Leaf costs more, since its checks are more expensive.

    When you get an answer of some kind, just stop and think about what it means, in light of what you have done.

    1. 👍 0
    2. 👎 1
  3. no

    1. 👍 1
    2. 👎 1

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    Mr.Shea saved $2,500 in April. His monthly salary is Twice the amount he saved in April. In May, he saved a certain amount of money.He spent $4,200 more than the amount he saved. How much did he save in May.

  2. Math

    1. Is the equation true, false, or open? 4y 8 = 6y + 3 2. Which value is a solution of the equation 2 - 8x = -6? 3. Which ordered pair is a solution of the equation y - x - 4? 4. Which ordered pair is a solution of the equation y

  3. algebra

    A mortgage broker purchased two trust deeds for a total of $290,000. One trust deed earns 9% simple annual interest, and the second one earns 12% simple annual interest. If the total annual interest from the two trust deeds is

  4. Math

    Amy has $1,000 in a savings account at the beginning of the fall. She wants to have at least $500 in the account by the end of the fall. She withdraws $100 a week for living expenses. Write an inequality for the number of weeks

  1. Math

    Dan deposited $4000 into an account with 4.8% interest, compounded monthly. Assuming that no withdrawals are made, how much will he have in the account after 9 years? I was just wondering of the formula for this problem, because I

  2. math

    Mrs. Diaz wishes to save at least $1500 in 12 months. If she save $300 during the first 4 months, what is the least possible average amount that she must save in each of the remaining 8 months? After 4 months, 4 x 300 = $1200 will

  3. Algebra 1

    Constance is saving money to buy a new bicycle that costs $195.75. She already has $40 saved and plans to save $8 each week. How many weeks will it take her to save enough money to purchase the bicycle? Please help answer thanks

  4. Algebra

    Gwen has saved $3,500 and wants to deposit it into a savings account that earns 4% annual interest for 10 years. Complete the table below to help Gwen compare her earnings in a simple interest account versus a compound interest

  1. Canadian finances

    which of the following services do banks not provide? a. lines of credit b. health insurance c. currency exchange d. none of above (THIS ONE) which institutions does not offer RRSPs? a. bank b. credit union c. trust company (THIS

  2. college algebra help******

    Sequences 1. Constructing a Brick Staircase A brick staircase has a total of 30 steps. The bottom step requires 100 bricks. Each successive step requires two less bricks than the prior step. a. How many bricks are required for the

  3. math

    Lolita saved $ 5000 in a saving account which pays 12% interest compounded monthly. Eight months later she saved another $ 5000. Find the amount in the account two years after her first saving.

  4. Math

    Nina wants to buy a bicycle that costs $150.00. She had saved 6% of the total cost of the bike. How much money has Nina saved? How much does Nina have left to save before she can buy her bike?

You can view more similar questions or ask a new question.