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Math Counts: Problem of the Week #1

Posted on Dec 5, 2012 by in Contests, Math, Math Counts

Blackboard with mathematics sketches - vector illustration

At the beginning of the summer, Lauren had a balance $25 in her bank account. She saved a total of $145 from her summer job, which she deposited into her account. Today Lauren withdrew enough

money from her account to cover her $20 athletic facilities fee and her $30 uniform fee. If Lauren made no other withdrawals or deposits, what is her account balance?

Starting today, Lauren will earn $20 each week in allowance, which she plans to deposit into her bankaccount. If Lauren makes no other withdrawals or deposits, after how many weeks will the balance in

her bank account be double what it is now?

Lauren’s account earns interest at a rate of 1.25% monthly. If Lauren’s ending balance was $486,including the interest earned for a particular month, what was her balance before the interest was