Question

Many bank accounts never go below zero. But some banks will allow a negative balance, at least for a short time, called an overdraft. It means someone has taken out, or 'drafted', more money than was in the account to begin with. Jack's account went into overdraft. To get back to a positive balance, he deposited money at a steady rate of $24.98 per week. After 6 weeks, he had $125.85 in the account. What was the balance when the account went into overdraft? HELPPPPPPPPPP

Answer 1

To find the overdraft balance, subtract the total amount deposited over six weeks from the final positive balance. Jack's overdraft balance was -$24.03.

Step-by-step explanation:

To calculate the balance of Jack's account when it went into overdraft, we need to start with the final positive balance after six weeks of deposits and then subtract the total amount deposited over that period to determine the negative balance he started with. After six weeks of depositing $24.98 per week, Jack has $125.85 in the account.

The total amount deposited over the six weeks can be calculated as follows:

1. Multiply the weekly deposit amount by the number of weeks: $24.98 × 6 weeks = $149.88.
2. Subtract the total deposits from the positive balance: $125.85 - $149.88 = -$24.03.

Therefore, when Jack's account went into overdraft, the balance was -$24.03.

Answer 2

Step-by-step explanation:

His balance was -24.03