Question

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?

$62.50
$177.50
$187.50
$302.50

Explanation:

Calculate the total fees deducted over five months

$$ 5 \times \$12.50 = \$62.50 $$

Subtract the total fees from the initial balance

$$ \$240.00 - \$62.50 = \$177.50 $$

Answer:

• (A) $62.50
• (B) $177.50 (Correct answer)
• (C) $187.50
• (D) $302.50