Question

Lynn's sister has a checking account if the account balance ever Falls below zero the bank charges her a key of dollars 95 cents per day today the balance in Lancaster account is negative two dollars 67 if she does not make any deposit or withdrawal what will be her balance and account two days in 14 days then sister will be paid $430 and will deposit it into our checking account if there are no more there are no other transition transactions and besides the deposit and the daily fee will will link continue to be charged$5.95 each day after deposit is made explain or show your reasoning

Answer 1

Answer:

Step-by-step explanation:

Let's determine Lynn's sister's checking account balance over the next few days, considering the daily fee and upcoming deposit.

Initial balance: -$2.67

Day 1: After a $0.95 fee, the balance is:

-$2.67 - $0.95 = -$3.62

Day 2: Another $0.95 fee results in a balance of:

-$3.62 - $0.95 = -$4.57

Day 3-14: With a daily $0.95 fee, the balance decreases by $0.95 each day. Therefore, the balance from Day 3 to Day 14 is:

Balance on Day (n) = -$4.57 - ($0.95 * (n - 2))

On Day 14, a $430 deposit is received, making the balance:

Balance on Day 14 = -$4.57 - ($0.95 * (14 - 2)) + $430

Balance on Day 14 = -$4.57 - ($0.95 * 12) + $430

Balance on Day 14 = -$4.57 - $11.40 + $430

Balance on Day 14 = $413.03

After Day 14, a $5.95 daily fee will be charged. However, without more details, we can't project the balance past Day 14.

In conclusion, Lynn's sister will have a balance of -$4.57 on Day 2, and after the $430 deposit on Day 14, her balance will be $413.03. Further calculations require additional information.