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Elizabeth has $252.00 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
114.60
150.00
Tuesday
79.68
---
Wednesday
161.39
---
Thursday
57.40
---
Friday
22.85
75.00
Saturday
140.55
---

On what day does Elizabeth first get charged an overdraft fee?
a.
Wednesday
b.
Thursday
c.
Friday
d.
Saturday

1 answer

Let's calculate Elizabeth's account balance each day based on the transactions provided.

  • Initial balance on Sunday: $252.00

Monday:

  • Debit: $114.60
  • Credit: $150.00
  • Balance after Monday = $252.00 - $114.60 + $150.00 = $287.40

Tuesday:

  • Debit: $79.68
  • Balance after Tuesday = $287.40 - $79.68 = $207.72

Wednesday:

  • Debit: $161.39
  • Balance after Wednesday = $207.72 - $161.39 = $46.33

Thursday:

  • Debit: $57.40
  • Balance after Thursday = $46.33 - $57.40 = -$11.07

Friday:

  • Debit: $22.85
  • Credit: $75.00
  • Balance after Friday = -$11.07 - $22.85 + $75.00 = $41.08

Saturday:

  • Debit: $140.55
  • Balance after Saturday = $41.08 - $140.55 = -$99.47

Now, checking the balances, Elizabeth first goes into overdraft (negative balance) on Thursday.

Therefore, the answer is: b. Thursday