Jack deposited a check into his account for $234.87. Then, he withdrew $234.87 in cash in the same transaction. What is the net amount of Jack's transaction.

Answer 1

If Jack deposited a check for $234.87 into his account and then immediately withdrew $234.87 in the same transaction, the net amount of Jack's transaction would be zero. This is because the deposit and the withdrawal cancel each other out:

Deposit: +$234.87
Withdrawal: -$234.87
Net transaction: $234.87 - $234.87 = $0

So, the net effect on the account balance from this transaction is $0.