Question

At the beginning of this month, the balance of Vance's checking account was $697.96. So far this month, he has received a paycheck via direct deposit of $962.88, been charged a monthly service fee from his bank of $25.00, used a debit card linked to his account to make a purchase of $83.12, written a check for $138.83 that has already been deposited, and deposited a check written to him for $71.17. What is the current balance of Vance's checking account?

Answer 1

His total account will have 1485.06 in it after everything is said and done.

Answer 2

Answer:

The current balance of Vance's checking account is $1485.06.

Step-by-step explanation:

Vance's checking account balance was $697.96

He has received a paycheck via direct deposit of $962.88

After receiving a paycheck his new account balance will be :

$697.96+$962.88 = $1660.84

He has been charged a monthly service fee from his bank of $25.00

So, amount $25.00 will be deducted from his account . So, new balance will be : $1660.84 - $25.00 =  $1635.84.

Now, he made  a purchase of $83.12 using his debit card . So, deduction of this amount will be done from the account .

So, new balance will be : $1635.84-$83.12 = $1552.72

He written a check of amount $138.83 . so  deduction of this amount will be done from the account .

So, new balance will be :$1552.72-$138.83= $1413.89

Now, he deposited a check written to him .of amount $71.17. so, addition of this amount will be done .

So, the new balance will be $1413.89+$71.17=$1485.06.

Thus , The current balance of Vance's checking account is $1485.06.