91Ó°ÊÓ

Alisha has a February starting balance of \(\$ 678.98\) in her checking account. During the month, she made deposits that totaled \(d\) dollars and wrote checks that totaled \(c\) dollars. Let \(E=\) her ending balance on February 28 . Write an inequality using \(E\) and the starting balance to show the relationship of her starting and ending balances for each condition. a. if \(d >c\) b. if \(d< c\)

Linda has \(d\) dollars in an account that pays 3.4\(\%\) interest, compounded weekly. She withdraws \(w\) dollars. Express her first week's interest algebraically.

Create a check register for the transactions listed. There is a \(\$ 2.25\) fee for each ATM use. a. Your balance on 10\(/ 29\) is \(\$ 237.47\) b. You write check 115 on 10\(/ 29\) for \(\$ 182.00\) to Fox High School. c. You deposit a paycheck for \(\$ 162.75\) on 10\(/ 30 .\) d. You deposit a \(\$ 25\) check for your birthday on 11\(/ 4\) . e. On \(11 / 5,\) you go to a sporting event and run out of money. You use the ATM in the lobby to get \(\$ 15\) for snacks. f. Your credit card bill is due on \(11 / 10,\) so on 11\(/ 7\) you write check 116 to Credit USA for \(\$ 51.16 .\) g. Your sister repays you \(\$ 20\) on 11\(/ 10 .\) You deposit it. h. You withdraw \(\$ 25\) from the ATM to buy flowers on 11\(/ 12\) . i. You deposit your paycheck for \(\$ 165.65\) on 11\(/ 16\) . j. Your deposit a late birthday check for \(\$ 35\) on 11\(/ 17\) .

Rodney invests a sum of money, \(P,\) into an account that earns interest at a rate of \(r,\) compounded yearly. Gerald invests half that amount into an account that pays twice Roonney's interest rate. Which of the accounts will have the higher ending balance after one year? Explain.

Ridgewood Savings Bank charges a \(\$ 27\) per check overdraft protection fee. On July \(8,\) Nancy had \(\$ 1,400\) in her account. Over the next four days, the following checks arrived for payment at her bank: July \(9, \$ 1,380.15,\) July \(10, \$ 670\) and \(\$ 95.67 ;\) July \(11, \$ 130 ;\) and July \(12, \$ 87.60 .\) How much will she pay in overdraft protection fees? How much will she owe the bank after July 12\(?\)

Island Bank is advertising a special 6.55\(\%\) APR for CDs. Manny takes out a one-year \(\mathrm{CD}\) for \(\$ 40,000 .\) The interest is compounded daily. Find the annual percentage yield for Manny's account to the nearest hundredth of a percent.

Assume \(\$ 20,000\) is deposited into a savings account. Bedford Bank offers an annual rate of 4\(\%\) simple interest for five years. Slick Bank offers a rate of 20\(\%\) simple interest for one year. Which earns more interest?

Businesses deposit large sums of money into bank accounts. Imagine an account with 10 million dollars in it. a. How much would the account earn in one year of simple interest at a rate of 5.12\(\%\) ? b. How much would the account earn in one year at 5.12\(\%\) if the interest was compounded daily? c. How much more interest is earned by interest compounded daily compared to simple interest?

123 Savings and Loan charges a monthly fee of \(\$ 8\) on checking accounts and an overdraft protection fee of \(\$ 33 .\) Neela's check register showed she had a balance of \(\$ 456\) when she wrote a check for \(\$ 312 .\) Three days later she realized her check register had an error and she actually only had \(\$ 256 .\) So she transferred \(\$ 250\) into her checking account. The next day, her monthly account statement was sent to her. What was the balance on her statement?

An elite private college receives large donations from successful alumni. The account that holds these donations has \(\$ 955,000,000\) currently. a. How much would the account earn in one year of simple interest at a rate of 5.33\(\%\) ? b. How much would the account earn in one year at 5.33\(\%\) if the interest was compounded daily? Round to the nearest cent. c. How much more interest is earned by compounded daily as compared to simple interest? d. If the money is used to pay full scholarships, and the price of tuition is \(\$ 61,000\) per year to attend, how many more students can receive full four- year scholarships if the interest was compounded daily rather than using simple interest?