Question

Your bank account balance is -$6.55. You deposit $21.75. What is your new balance? Explain how you calculated the new balance

Answer 1

To calculate your new balance after the deposit, you start with your current balance and add the amount you are depositing.

1. Your current balance is -$6.55 (this means you are overdrawn by $6.55).
2. You deposit $21.75.

Now, you add the deposit to your current balance:

\[
\text{New Balance} = \text{Current Balance} + \text{Deposit}
\]
\[
\text{New Balance} = -6.55 + 21.75
\]

To carry out the calculation:

- Start by combining the numbers:
- Convert -$6.55 to a positive value for ease of calculation: $21.75 - $6.55
- This is the same as subtracting 6.55 from 21.75:
- $21.75 - $6.55 = $15.20

So, the new balance is **$15.20**.

This means after depositing $21.75 into your account, you not only cover the overdrawn amount but also have a positive balance of $15.20.