Question

You have automatic deposit of your monthly paycheck which, after normal expenses, maintains your balance of $6,350 in your checking account. The account earns 2.5% interest per month. Every month you have an automatic repeat transfer of $150 from your checking account into your $34,500 savings account. If you do not pay any money out of your checking account until after the transfer, will the interest in your checking account cover the transfer?

Answer 1

Answer:

Yes

Step-by-step explanation: