Question

Richard’s checking account balance was $57.34 at the beginning of the week. During the week, he recorded the transactions below.

Answer 1

Richard’s account balance at the end of the week is $ 132.45

What is Account Balance ?

The amount of money in a person's bank account is called the account balance of that person

It is given that

Account balance of Richard’s at the beginning of the week = $57.34

Deposits in the week  : $ 163.75

Expenses in the week : Groceries + Credit card bill + Gas

Total Expenses in the week = 25.37 + 50 + 13.27

                                               = $ 88.64

The Richard’s account balance at the end of the week = Account Balance +Total Deposits - Total Withdrawals

= 57.34 + 163.75 - 88.64

Therefore , Richard’s account balance at the end of the week is $ 132.45.

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