Question

Rick and Koby expected the automatic withdrawal of their fuel oil bill to be more than last month’s bill of $259.85. but did not know how much. The activity on their account showed a previous balance of $528.76, checks processed of $416.79, an automatic deposit of $400.00 and interest earned of $3.56%. If their new balance was $228.58, by how much did this month’s fuel oil bill exceed last month’s bill?

Answer 1

The answer is that this month’s fuel oil bill exceed last month’s bill by US$ 27.10

Explanation:

Let's review extensively the Rick and Koby's bank account activity to answer the question correctly:

Previous balance US$ 528.76

Deposits this month:

Automatic deposit US$ 400.oo

Interest earned US$ 3.56

Balance = 932.32

Withdrawals this month:

Checks processed US$ 416.79

Fuel oil bill = x

Balance = US$ 228.58

For calculating the fuel oil bill, we solve the following equation:

932.32 - 416.79 - x = 228.58

515.53 - x = 228.58

- x = 228.58 - 515.53 (Subtracting 515.53 at both sides)

- x = - 286.95

x = 286.95

286.95 - 259.85 = 27.10

This month's fuel oil bill was US$ 286.95 and exceeds by US$ 27.10 last month's bill.