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Olivia has $240 in her bank account. Each month, her bank deducts a $12.50 fee for maintaining a balance below $250. If Olivia makes no other deposits or withdrawals, how much money will be in her account at the end of five months.

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HwG18
Olivia will have $177.50 in the end of five months after all fees.
perixwinkle
Let's find the equatio first to represent this problem.
240-12.50x=y
X is the number of months, and y is the remaining amount of money in her account. We're are looking for 5 months, so let's plug in 5 for x.
240-12.50(5)=y
240-62.5=y
177.50=y
Olivia will have $177.50 at the end of five months.

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