Question

The beginning balance in a savings account is $64.98. After a deposit of $73.87, two withdrawals of $51.00 and $23.50, and $1.15 of interest earned, what is the balance? $138.85 $65.50 $64.35 $87.85

Answer 1

The account has a balance of $64.98 at the start. That means that there is $64.98 in the account.

A deposit of $73.87 is made after which the amount in the account is $64.98 + $73.87 = $138.85.

Next come two withdrawals (this is money that is taken out of the account so we need to subtract the amounts given). $138.85 - $51.00 = $87.85 and $87.85 - $23.50 = $64.35.

Interest is added to the account. So we end by adding $1.15 to the amount we just arrived at. That is, $64.35 + $1.15 = $65.50

The balance after these transactions is $65.50