To solve this problem, let's define the variable [tex]\( x \)[/tex] as the amount of money in John's second bank account.
We are given:
- John has [tex]$27 in his first bank account.
- 80% of his total net worth equals $[/tex]16.
We need to determine the value of [tex]\( x \)[/tex], the amount in his second bank account.
Start by noting that the total net worth is the sum of the balances in both accounts. Thus, his total net worth can be expressed as:
[tex]\[ \text{Total Net Worth} = 27 + x \][/tex]
Next, it's given that 80% of John's total net worth is equal to [tex]$16. We can write this as:
\[ 0.8 \times (27 + x) = 16 \]
To find \( x \), we begin by solving for the total net worth:
1. Divide both sides of the equation by 0.8:
\[ 27 + x = \frac{16}{0.8} \]
2. Calculate the right-hand side:
\[ 27 + x = 20 \]
To isolate \( x \), subtract 27 from both sides:
\[ x = 20 - 27 \]
Therefore:
\[ x = -7 \]
Thus, John's second bank account has \(-\$[/tex]7\), indicating it is overdrawn by [tex]$7.
In conclusion, the amount of money in John's second bank account is \(-\$[/tex]7\).
