If the bank charges Dominic an overdraft fee of $25 every time he overdraws his account, and Dominic overdrew his account on Thursday but not on Saturday, which of the following is a possible amount of money that Dominic could have had in his account last Sunday? Assume that the only debits and credits not listed are overdraft fees.
a.
$500
b.
$480
c.
$435
d.
$400
Please select the best answer from the choices provided
In real financial banking transactions, Debits are basically the withdrawals and credits are deposits.
Because the problem states that there was an over withdrawal on Thursday but not on Saturday, this means that the ending balance on Thursday was a negative balance. On Saturday, the remaining balance was a positive balance. 500 and 480 as a beginning balance doesn't give a negative balance on Thursday. 400 as a beginning balance gives a negative balance on Thursday as well as Saturday.
