Can someone help me with this please
2 answers:
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Answer:
Debit of $ 1.31
Step-by-step explanation:
Here, the initial amount in the account = $ 825,
Monthly interest on the amount = 0.75 % of initial amount
And, the service charge = $ 7.50,
Thus, the final amount = Initial amount + Monthly interest - Service charge
= $ 825 + $ 6.1875 - $ 7.50,
= $ 823.6875
So, the total changes in the amount = final amount - Initial amount
= $ 823.6875 - $ 825 = -1.3125 ≈ - 1.31
Since, negative sign shows the amount is debited,
Hence, the amount of debit to his account is $ 1.31.