Which transaction caused John to overdraw his account?
1 answer:
By examining the financial figures provided above for John's account, it is clear that check no. 410 for $710.49 was the reason for John's account overdraft. As a result, choice (C) is valid.
<h3>What does overdrawing an account mean?</h3>A transaction in which the account holder is permitted to take more money than the account's actual balance is referred to as an overdraft from the account. The account balance is negative following a transaction that results in an overdraw.
One can clearly infer from the account statement shown above that an overdraw transaction occurred after Check No. 410 for an amount of $710.49 was drawn since the account's balance was negative for the first time.
Hence, Option (C ) is the accurate one.
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Your question is incomplete, probably the complete question is:
Which transaction caused John to overdraw his account?
(A) The Online Bill Payment of $146.67
(B) Check No. 409 for $100
(C) Check No. 410 for $710.49
(D) The Overdraft Fee of $35
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Answer:
percentage of your salary save each year is 13.24%
Explanation:
given data
time period t = 25 year
amount = $1.1 million
salary = $61000
increase r1 = 4 percent per year = 0.04
return r2 = 10 percent = 0.1
to find out
what percentage of your salary must you save each year
solution
we consider here annual saving = A
so amount formula is
amount = A ×
here A is annual saving and r1 is increase rate and r2 is return rate
1100000 = A ×
A = $8079.45
so
proportion of salary is
proportion of salary = 13.24%
so percentage of your salary save each year is 13.24%