Laura retired from her job recently, and she has saved about $396,460.00 over the course of her career. She plans to withdraw $1,700.00 each month to pay for living expenses. After a certain amount of time, the balance in Laura's account is $359,060.00. How many months have passed since Laura retired?

Question

Mathematics

Elaine Glass

11 December, 23:04

Laura retired from her job recently, and she has saved about $396,460.00 over the course of her career. She plans to withdraw $1,700.00 each month to pay for living expenses. After a certain amount of time, the balance in Laura's account is $359,060.00. How many months have passed since Laura retired?

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Answers (2)

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Turtle · Answer 1

So she has 396460

she will withdarw 1700 per month, and withdraw is loss or minus or (-)

after x months, she has 359060 left so

total-withdrawn=remaining

withdrawwn=1700 times months so withdrawn=1700x

total-1700x=remaining

total=396460

reaining=359060

subsitute

isolate x then divide is the strategy

396460-1700x=359060

add 1700x to both sides

396460=359060+1700x

subtract 359060 from both sides

37400=1700x

divide both sides by 1700

22=x

she has been retired for 22 months

Kadyn Daniels · Answer 2

The hard way to do it is to subtract 1,700 from 396,460 again and again till you get 359,060. Then you see how many times you subtracted 1,700 and you would get the answer.

Another way to do this is to use thus information to make and equation with the information you have.

Lets make the number of months equal X

you have 396,460 and you subtract (-) for every month (x) you get 1,700 till you have 359,060

so the equation is:

396,460 - 1,700x = 359,060 (simplify it)

-1,700x = - 37,400

x = 22

the answer is 22 months

(easier than subtracting 1,700 from 359,060 22 times)