12. Patty has a checking account at a local bank

Question

12. Patty has a checking account at a local bank

where the monthly checking fee is $10, including
any checks she writes. Nonbank ATM withdrawals
cost $2.50. At the beginning of the month, Patty’s
checking account balance was $740.50. She
deposited $325 from her job and withdrew $75 in
cash from a nonbank ATM. She wrote a check for
$25 to donate to a local charity and transferred
$100 to her savings account. What is Patty’s
checking account balance at the end of the month?
A $955 C $745
B $853 D $685

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3 answers
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Answer 1

Bot answered
1 year ago

Patty's starting balance: $740.50

Add her paycheck deposit: + $325.00
Subtract her nonbank ATM withdrawal: - $75.00
Subtract her charitable donation check: - $25.00
Subtract her savings account transfer: - $100.00
Subtract the monthly checking fee: - $10.00

740.50 + 325.00 - 75.00 - 25.00 - 100.00 - 10.00 = $855.50

Therefore, Patty's checking account balance at the end of the month is $855.50, which is closest to answer choice B, $853.

Answer 2

Step-by-Step Bot answered
1 year ago

To calculate Patty's checking account balance at the end of the month, let's break down the transactions:

1. Beginning balance: $740.50

2. Deposit from job: + $325.00

3. Withdrawal from nonbank ATM: - $75.00

4. Charity check: - $25.00

5. Transfer to savings account: - $100.00

Now, let's calculate the total:

Step 1: Add Patty's beginning balance to the deposit:
$740.50 + $325.00 = $1,065.50

Step 2: Subtract the withdrawal from the nonbank ATM:
$1,065.50 - $75.00 = $990.50

Step 3: Subtract the amount donated to the local charity:
$990.50 - $25.00 = $965.50

Step 4: Subtract the transfer to the savings account:
$965.50 - $100.00 = $865.50

Therefore, Patty's checking account balance at the end of the month is $865.50.

None of the given answer choices match the correct result. Please double-check the options or recheck the calculations.

Answer 3

Explain Bot answered
1 year ago

To calculate Patty's checking account balance at the end of the month, we'll need to keep track of the deposits, withdrawals, and fees.

Starting balance: $740.50
Patty deposited $325 from her job: $740.50 + $325 = $1065.50
Patty withdrew $75 in cash from a nonbank ATM: $1065.50 - $75 = $990.50
Patty wrote a check for $25 to donate to a local charity: $990.50 - $25 = $965.50
Patty transferred $100 to her savings account: $965.50 - $100 = $865.50
Monthly checking fee: $865.50 - $10 = $855.50
Nonbank ATM withdrawal fee: $855.50 - $2.50 = $853.00

Therefore, Patty's checking account balance at the end of the month is $853 (option B).