Question

At the beginning of May, Larry had a balance of $605.19 in his savings account. During May, he made 2 deposits of $100.25 each.
He withdrew $138.75 during this month and earned $0.46 in interest. What is the balance in Larry's account at the end of May?
A.
$667.40
B. $738.60
C.
$805.69
D.
$806.15

Answer 1

To find Larry's balance at the end of May, we can follow these steps:

1. **Initial Balance**: $605.19
2. **Deposits**: Larry made two deposits of $100.25 each.
- Total deposits = 2 * $100.25 = $200.50
3. **Withdrawals**: Larry withdrew $138.75.
4. **Interest Earned**: Larry earned $0.46 in interest.

Now we can calculate the end balance:

1. Start with the initial balance:
\[
605.19
\]

2. Add the total deposits:
\[
605.19 + 200.50 = 805.69
\]

3. Subtract the withdrawal:
\[
805.69 - 138.75 = 666.94
\]

4. Add the interest earned:
\[
666.94 + 0.46 = 667.40
\]

Thus, the balance in Larry's account at the end of May is **$667.40**.

So the correct answer is **A. $667.40**.