Question

Timmy's bank account is $500 before going to Vail. He then goes and buys skis and sees a -$500 on his bank statement indicating the purchase of the skis. What is the amount in his bank now? What does that represent?

Answer 1

Timmy has no amount left in the bank account after his skis purchase.

It represents that the cost of his ski was exactly equal to the amount in his savings.

Explanation:

The total money in the account = $500

The deduction in the account = -$500

⇒ The Monet left in the account

= Money in the Account - The deducted amount

= $500 -$500 = $0

So, Timmy has no amount left in the bank account after his skis purchase.

It represents that the cost of his ski was exactly equal to the amount in his savings.

And after its purchase, he has no money left in his account.