You deposit a total of $95 into a checking account. You neither deposit nor withdraw any money form the account, but the bank charges you a monthly maintenance fee. After having the account for one month, you check your bank statement each month for 3 months and see the following trend: a. The amount you put into the account initially would be the balance at month 0. What was the initial deposit?
b. If you were to plot these points on a graph with month as your input and your monthly balance as your output, the points would lie on a line. What would the slope of the line represent in this context?
c. Will the slope of the line be positive or negative? How do you know?
d. What is the monthly fee being charged? How do you know?
e. After 6 months, what is your remaining balance?
f. If you do not deposit any money into your account, after how many months will you run out of money (i. e., when will your balance be negative)?