Todd M. answered 01/11/20
Exam tutor for the SIE, Series 7, Series 65 , Series 66, GMAT, Finance
A) We need to substitute $53.49 for a in the equation and solve for m.
53.49=0.45(m-450)+39.99 [subtract 39.99 from both sides]
13.50 = 0.45(m-450) [Divide both sides by 0.45]
30 = m - 450 [add 450 to both sides]
480 = m
CHECK:
13.5 = 0.45(480-450)
13.5 = .45(30)
13.5 = 13.5
B) He promised to use half the minutes of last month so 480 * .5 = 240
If he has already used 225 minutes then he can only use 240 - 225 = 15 more minutes this month