Javier had $305 in his bank account. His bank charges a fee of $7.50 each month that a balance is below $500.

Question

If he makes no other deposits or withdrawals, how much money is in Javier’s account at the end of three months?
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Answer 1

Each month, Javier's account balance will decrease by $7.50 if it's below $500.
After 3 months, his account balance will decrease by $7.50 * 3 = $<<7.50*3=22.50>>22.50.
His account balance at the end of three months is $305 - $22.50 = $<<305-22.50=282.50>>282.50. Answer: \boxed{282.50}.