Question

Dan has saved $500. He wants to open a chequing account at Save-A-Lot Trust or Maple Leaf Savings. Save-A-Lot Trust's chequing account is $10 per month plus $0.75 per cheque. Maple leaf savings' chequing account is $7 per month plus $1.00 per cheque. Which financial institution charges less per month?

So let x represent number of cheques used and y represent charge.
y=10+0.75x is Save A Lot..,y=7+1x is Maple Leaf..

10+0.75x=7+1x
0.75x-1=-10+7
-0.25x=-3
-0.25=-3
----------
-0.25=-3
x=12

I don't know what to do after this.. Please help.

Answer 1

Typo.. when I was dividing, -3 should be -0.25 .

Answer 2

The question is poorly worded, since it leaves out the cost of the checks.

You've gone as far as you can. Clearly, $7/mo is less than $10/mo, but you have to factor in the number of checks.

You have found that at 12 checks, the cost is the same for both banks. Any more than that, and Maple Leaf costs more, since its checks are more expensive.

When you get an answer of some kind, just stop and think about what it means, in light of what you have done.

Answer 3

no