Javier had $305 in his bank account. His bank charges a fee of $7.50 each month that a balance is below $500.
If he makes no other deposits or withdrawals, how much money is in Javier’s account at the end of three months?
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after m months, he will have 305 - 7.50m
To determine Javier's account balance at the end of three months, we need to consider the monthly fees charged by his bank.
Since his account balance is below $500, we know he will be charged a fee of $7.50 for each of the three months.
First, let's calculate the fees charged over the three months:
$7.50 x 3 = $22.50
Next, we subtract this amount from Javier's initial account balance:
$305 - $22.50 = $282.50
Therefore, at the end of three months, Javier will have $282.50 in his bank account.
To determine how much money is in Javier's account at the end of three months, we need to consider the monthly fee charged by the bank and the initial balance in his account.
First, let's calculate the total amount of fees charged over three months if Javier's balance is below $500 each month. Since there are three months, he will be charged a total of 3 * $7.50 = $<<3*7.50=22.50>>22.50.
Next, let's subtract the total fees charged from the initial balance to find the remaining amount in Javier's account. Starting with $305, subtract the total fees of $22.50:
$305 - $22.50 = $<<305-22.50=282.50>>282.50
Therefore, at the end of three months, Javier will have $282.50 in his account.