Question

Your local bank offers free checking for accounts with a balance of at least $500. Suppose you have a balance of $516.46 and you write a check for $31.96. How much do you need to deposit to avoid being charged a service fee?

Answer 1

See a solution process below:

Explanation:

First, we need to find your balanced after writing the check:

`$516.46 - $31.96 = $484.50`

Now to find out how much you need to deposit we need to determine how much under $500 your bank account balance is. We do this by subtracting your current balance from $500:

`$500.00 - $484.50 = $15.50`

You need to deposit at least `color(red)($15.50)` to avoid being charged a service fee.