Question

Conrad Savings Bank has a $50 overdraft fee. On Friday, Mr. McQuire deposited his paycheck of $468.92 for a total account balance of $712.34. The next morning, his wife wrote a check for $1,267.45 for a new refrigerator and stove. The check cleared the bank by the end of the day. What is the current balance in the McQuire's account?

Answer 1

Answer:

The current balance in the McQuire's account is $-605.11

Step-by-step explanation:

Mr. McQuire deposited his paycheck for a total account balance of $712.34 on Friday.

The next morning, his wife wrote a check for $1,267.45

As, the total account balance is less than the amount of check, so the bank will charge a $50 overdraft fee.

That means, the total amount that will be deducted from his account $=(\ 1267.45+\ 50)= \ 1317.45$

So, the current balance in the McQuire's account $=(\ 712.34-\ 1317.45)= \ -605.11$