Gus has a checking account balance of $75. His bank will fund the a debit card purchase that creates a negative balance up to a limit of $200, but charges a $35 fee per transaction for any purchase made in overdraft. Gus made a purchase of $100 yesterday, and another purchase of $27 today. He used a debit card for each purchase. Then, he deposited a check for $25. What is Gus' current account balance?
I got -$62?
6 answers
Is it -97
75 - 100 -27 - 2(35) + 25 = -97
Balance before purchase = $75
balance after $100 purchase = -$25
charged $35: so balance = $-60
balance after $27 purchase = -87
charged another 35, so balance is -122
balance after $25 deposit = $-97
balance after $100 purchase = -$25
charged $35: so balance = $-60
balance after $27 purchase = -87
charged another 35, so balance is -122
balance after $25 deposit = $-97
Looks like you forgot one of the two 35 s the first time you did it.
Oh thank you so much, I was confused about the fees
You are welcome.
19 answers