Question

At the beginning of this month, the balance of Carl's checking account was $437.55. So far this month, he has received a paycheck via direct deposit of $687.22, was charged a monthly service fee by his bank of $15.00, used a debit card linked to his account to make a purchase of $62.11, wrote a check for $88.14 that has already been deposited, and deposited a check for $75.00. What is the current balance of Carl's checking account?

Answer 1

Again, just simple addition and subtraction: $1,034.52

Answer 2

The current balance of Carl's checking account is $1034.52

Explanation:

Opening balance = $437.55

Paycheck received = $687.22

Monthly service fee = $ 15

Used a debit card linked to his account to make a purchase of = $62.11

Wrote a check for = $88.14

Deposited a check for = $75.00

To know the current balance of Carl's account, we will add up all the receivables and subtract all the spending.

`(437.55+687.22+75)-(15+62.11+88.14)`

`1199.77-165.25=1034.52`

Therefore, the current balance of Carl's checking account is $1034.52