Question

At the beginning of March, Janet opened a checking account with her first paycheck of $153.82. During the month, she withdrew $40 from the ATM, wrote a check for $54.12 to pay for her cell phone, deposited a check for $215.70, transferred $75.00 to her savings account, and had a debit of $130 for sports equipment.

Which is true about Janet’s account?
The account balance is $70.40.
The account balance is $150.40.
The account balance is $330.40.
The account is overdrawn by $87.24.

Answer 1

Start with $153.82.

Transactions:
- ATM withdrawal: −40.00 → 113.82
- Check: −54.12 → 59.70
- Deposit: +215.70 → 275.40
- Transfer to savings: −75.00 → 200.40
- Debit for equipment: −130.00 → 70.40

So the account balance is $70.40.