I count 7 months, so
rate of change per month = (800 - 1050)/7
= - $35.71
balance is declining at a rate of appr $36 per month
rate of change per month = (800 - 1050)/7
= - $35.71
balance is declining at a rate of appr $36 per month
First, let's find the difference in the balance:
Balance on September 1, 2008 = $1,050
Balance on March 31, 2009 = $800
Difference in balance = $800 - $1,050 = -$250
The difference in balance is -$250, indicating a decrease in the checking account balance.
Next, let's find the number of months between September 1, 2008, and March 31, 2009:
September 2008 to March 2009 is a span of 7 months.
Now, we can calculate the monthly rate of change:
Monthly rate of change = Difference in balance / Number of months
Monthly rate of change = -$250 / 7
Dividing -$250 by 7 gives us approximately -$35.71.
Therefore, the monthly rate of change for the student's checking account over the period September 1, 2008, through March 31, 2009, is approximately -$35.71.