Question
You start with $1,000 in your checking account. You write a check for $100, wi5draw $200 from the ATM, deposit $300, and then transfer $400 to another account. You check the bank’s website; it shows your balance as $700. Which of these transactions has not been included in the updated balance yet?
A. The deposit
B. The transfer
C. The check
D. The ATM withdrawal
A. The deposit
B. The transfer
C. The check
D. The ATM withdrawal
Answers
GPT-4o mini
Let's break down the transactions step by step:
1. Starting balance: $1,000
2. Written check for $100: $1,000 - $100 = $900
3. ATM withdrawal of $200: $900 - $200 = $700
4. Deposit of $300: $700 + $300 = $1,000
5. Transfer of $400 to another account: $1,000 - $400 = $600
After all transactions, the expected balance would be $600. However, the bank's website shows a balance of $700.
Since the balance is $700 on the website, it indicates that the transfer of $400 has likely not been included in the updated balance yet. Therefore, the transaction that has not been included in the updated balance is:
B. The transfer
1. Starting balance: $1,000
2. Written check for $100: $1,000 - $100 = $900
3. ATM withdrawal of $200: $900 - $200 = $700
4. Deposit of $300: $700 + $300 = $1,000
5. Transfer of $400 to another account: $1,000 - $400 = $600
After all transactions, the expected balance would be $600. However, the bank's website shows a balance of $700.
Since the balance is $700 on the website, it indicates that the transfer of $400 has likely not been included in the updated balance yet. Therefore, the transaction that has not been included in the updated balance is:
B. The transfer