Chapter 1.1, Problem 44E

To determine

To find balance $4$ years ago when the current balance is $\$308$ more than the balance $4$ years ago and the current balance is $\$4708$ .

Answer to Problem 44E

The balance $4$ years ago was $\$4400$ .

Explanation of Solution

Given:

Current balance is $\$308$ more than the balance $4$ years.

Calculation:

Given:

Current balance is $\$308$ more than the balance $4$ years.

Current balance $=\$4708$

Let the balance $4$ years ago is $x$ .

Thus, length $=$$1.9x$

Thus, the equation is:

  $x+308=4708$

Solving the above equation, we have:

  $\begin{array}{l}x=4708-308\\ x=4400\end{array}$

Thus, the solution is $x=4400$ .

Thus, the balance $4$ years ago was $\$4400$ .

Conclusion:

Hence, the balance $4$ years ago was $\$4400$ .