Answer:
15 months.
Step-by-step explanation:
Given:
Laura retired and saved about $414,731.00 over the course of her career.
She plans to withdraw $2,224.00 each month to pay for living expenses.
After a certain amount of time, the balance in Laura's account is $381,371.00
Question asked:
How many months have passed since Laura retired ?
Solution:
Let total number of months for which she withdrew = [tex]x[/tex]
Total saving amount = $414,731
Unitary method:
In 1 month she withdrew = Â $2,224
In [tex]x[/tex] months she withdrew = [tex]\$2224x[/tex]
Total withdrew amount = Â [tex]\$2224x[/tex]
Balance amount after [tex]x[/tex] months = $381,371
Balance amount = Total saving amount - Total withdrew amount
[tex]381371=414731-2224x\\ \\ Subtracting\ both\ sides\ by\ 414731\\ \\ 381371-414731=414731-414731-2224x\\ \\- 33360=-2224x\\ \\ Minus\ canceled\ by\ minus\\ \\ 33360=2224x\\ \\ Dividing\ both\ sides\ by\ 2224\\ \\ \frac{33360}{2224} =\frac{2224x}{2224} \\ \\ 15=x[/tex]
Thus, 15 months have passed since Laura retired.
