1. A customer opens a checking account and a savings account at a bank. They will deposit a maximum of $600, some in the checking account and some in the savings account. (They might not deposit all of it and keep some of the money as cash.)
If the customer deposits $200 in their checking account, what can you say about the amount they deposit in their savings account?
2. The bank requires a minimum balance of $50 in the savings account. It does not matter how much money is kept in the checking account.
If the customer deposits no money in the checking account but is able to maintain both accounts without penalty, what can you say about the amount deposited in the savings account?
1. We cannot determine the exact amount the customer will deposit in their savings account without additional information. However, we can say that the amount they deposit in their savings account will be less than or equal to $400, as the customer can deposit a maximum of $600 and has already deposited $200 in their checking account.
2. If the customer is able to maintain both accounts without penalty and does not deposit any money in the checking account, we can say that the amount deposited in the savings account will be at least $50, as the bank requires a minimum balance of $50 in the savings account.
1. If the customer deposits $200 in their checking account, we cannot determine the exact amount they deposit in their savings account without more information. They can deposit any amount between $0 and $400 in their savings account as long as the total deposited amount does not exceed $600.
2. If the customer can maintain both accounts without penalty and does not deposit any money in the checking account, the minimum balance requirement of $50 in the savings account must be met. Therefore, the minimum amount deposited in the savings account would be $50 to avoid penalties.
1. If the customer deposits $200 in their checking account and the maximum deposit in both accounts is $600, we can determine the maximum amount they can deposit in their savings account by subtracting the amount deposited in the checking account from the maximum limit.
So, $600 - $200 = $400
We can say that the customer can deposit a maximum of $400 in their savings account.
To clarify how to arrive at this answer: The maximum deposit in both accounts is $600, and since the customer has deposited $200 in the checking account, they must have some amount left over to deposit in the savings account. Therefore, we subtract the checking account deposit from the maximum limit to find the remaining amount for the savings account.
2. If the bank requires a minimum balance of $50 in the savings account and the customer can maintain both accounts without penalty even with no money in the checking account, we can conclude that the minimum balance requirement only applies to the savings account.
So, we can say that the customer can deposit any amount above or equal to $50 in their savings account.
To arrive at this answer, we consider that the minimum balance requirement is specified for the savings account only. As long as this minimum balance is maintained, the customer can choose to deposit no money in the checking account while still avoiding any penalties. Hence, the customer has full flexibility in deciding the amount to deposit in the savings account, as long as it meets or exceeds the minimum balance requirement.