A college student is looking at her monthly checking account records. On September 1, 2008, her checking account held a balance of $1,050. At the end of March 2009, her checking account held a balance of $800. What is the monthly rate of change for the student’s checking account over the period September 1, 2008 through March 31, 2009?
Question
Answer:
The change in balance is 800-1080=-280. The number of months is 7 months from Sep to Mar. So that’s -280/7=-$40 per month.
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