Concept explainers
To find: The amount can be deposited in account by the end of the month to avoid paying the service fee.
Answer to Problem 75PPE
The amount can be deposited in account by the end of the month to avoid paying the service fee
Explanation of Solution
Given information:
The checking account balance at the end of each month =
Current balance =
The debit card expenditure =
Calculation:
To avoid a service fee, checking account balance must be at least
Let
Current balance minus debited amount plus amount deposited is at least
Therefore,
Hence avoid a service fee,, at least
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