Question

Kenneth has entered a check payment of $350.25 in his checkbook. If the old balance was $545.95, what is his latest balance?

Answer 1

Just add the new paycheck to the old balance:
350.25 + 545.95 = $896.2

Answer 2

The latest balance is $896.2

Explanation:

It is important to know that balance refers to the amount of money that is available in a bank account.

The problem says that the old balance of Kenneth was $545.95, that is the money available before entering the check payment. When Kenneth entered the check payment of $350.25 the available money increased. So, the current balance would be the sum of the two values.

`balance_(latest)=\$545.95+\$350.25=\$896.2`

Thus, the latest balance is $896.2