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Math Help - I keep coming up with 330 and the teacher says it is wrong...

  1. #1
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    I keep coming up with 330 and the teacher says it is wrong...

    Eli wong noticed his present balance was three times his previous balance. His withdrawal were 95% of his previous balance, and his deposits were $1.60 less than his present balance. The interest posted to this account equal 0.5% of his previous balance. If the service charge on his account was $5.00, what is Eli's present balance?

    I used the following to get 330...

    Present = 3x
    Previous = x
    Withdrawls = .95x
    Deposits = 1.60 - 3x
    Interest = .05x
    Service Charge = $5.00

    x=3x-.95x+1.60-3x+.05x-5


    Where might I be going wrong??

    Thank You for any help you give.
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  2. #2
    MHF Contributor MarkFL's Avatar
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    St. Augustine, FL.
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    Re: I keep coming up with 330 and the teacher says it is wrong...

    Using your method, you want:

    Present = 3x
    Previous = x
    Withdrawls = .95x
    Deposits = 3x - 1.60
    Interest = .05x
    Service Charge = $5.00

    3x = x - .95x + 3x - 1.60 + .05x - 5.00

    Now solve for 3x.
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