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Many bank accounts never go below zero. But some banks will allow a negative balance, at least for a short time, called an overdraft. It means someone has taken out, or 'drafted', more money than was in the account to begin with. Hunter's account has gone into overdraft. His balance is $-\$19.87$ . To get back to a positive balance, he plans to deposit money at a steady rate of $\$23.61$ per week. How much will be in his account after $5$ weeks?

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Exponential growth and decay: word problems

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Q. Many bank accounts never go below zero. But some banks will allow a negative balance, at least for a short time, called an overdraft. It means someone has taken out, or 'drafted', more money than was in the account to begin with. Hunter's account has gone into overdraft. His balance is

-\$19.87

. To get back to a positive balance, he plans to deposit money at a steady rate of

\$23.61

per week. How much will be in his account after

5

weeks?

Calculate Total Deposit: Hunter's current account balance is \(\(-19\).\(87\)\), which means he is in overdraft. He plans to deposit \$\(23\).\(61\) each week to get back to a positive balance. We need to calculate the total amount he will deposit over \(5\) weeks and then add this to his current balance.
Perform Multiplication: First, calculate the total amount Hunter will deposit over \(5\) weeks. This is done by multiplying the weekly deposit amount by the number of weeks.\(\newline\)Total deposit = \$\(23\).\(61\) per week \(\times 5\) weeks
Add to Current Balance: Perform the multiplication to find the total deposit.\(\newline\)Total deposit = \(\$23.61 \times 5\)\(\newline\)Total deposit = \(\$118.05\)
Perform Addition: Now, add the total deposit to Hunter's current balance to find out what his balance will be after \(5\) weeks.\(\newline\)New balance = Current balance + Total deposit\(\newline\)New balance = \(-\$19.87\) + \(118.05\)\)
Perform Addition: Now, add the total deposit to Hunter's current balance to find out what his balance will be after \(5\) weeks.\(\newline\)New balance = Current balance + Total deposit\(\newline\)New balance = \(-19.87 + \)\(118\).\(05\)Perform the addition to find the new balance.\(\newline\)New balance = \(-19.87 + \)\(118\).\(05\)\(\newline\)New balance = $98$ . $18$

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