Your bank account balance is -$6.55. You deposit $21.75. What is your new balance? Explain how you calculate the new balance.(3 points)

Answer 1

To calculate the new balance after depositing $21.75 into an account with a balance of -$6.55, you perform the following steps:

1. Start with the initial balance: -$6.55 (this means the account is overdrawn by $6.55).
2. Add the deposit amount: $21.75.

The calculation can be expressed as: \[ \text{New Balance} = \text{Initial Balance} + \text{Deposit} \] Substituting the values: \[ \text{New Balance} = -6.55 + 21.75 \]

Now, you can break it down:

1. Convert -$6.55 to a positive value: $6.55
2. Add it to $21.75: \[ 21.75 - 6.55 = 15.20 \]

So, the new balance is: \[ \text{New Balance} = 15.20 \]

Therefore, your new account balance after the deposit is $15.20.