Question

Anna has $274.00 in her account on Sunday. Over the next week, she makes the following changes to her balance via deposits and purchases:
Day
Debit ($)
Credit ($)
Monday
194.62
35.45
Tuesday
---
11.20
Wednesday
145.86
24.75
Thursday
53.35
33.80
Friday
31.60
45.77
Saturday
12.90
61.63

Anna gets an overdraft fee if her balance at the end of the day is negative. On which day or days does Anna get charged an overdraft fee?
I. Wednesday
II. Thursday
III. Friday
a.
I only
b.
I and II
c.
II and III
d.
III only



Please select the best answer from the choices provided


A
B
C
D
Mark this and return

Answer 1

Compute the end-of-day balances (start Sunday = 274.00):

- Monday: 274.00 − 194.62 + 35.45 = 114.83
- Tuesday: 114.83 + 11.20 = 126.03
- Wednesday: 126.03 − 145.86 + 24.75 = 4.92
- Thursday: 4.92 − 53.35 + 33.80 = −14.63 (negative)
- Friday: −14.63 − 31.60 + 45.77 = −0.46 (negative)
- Saturday: −0.46 − 12.90 + 61.63 = 48.27

Overdraft fees occur on Thursday and Friday (II and III). Choice: C.