Question

A bank teller notices that an account was overdrawn and had a balance that can be represented by negative $324. The account holder then deposited 3 checks for $150 each and made 4 withdrawals of -$20 each. The teller used the steps below to find the new balance for the account.

A) $206
B) $306
C) $386
D) $416

Answer 1

The new balance of the bank account, after depositing 3 checks worth $150 each and making 4 withdrawals of $20 each is $46. None of the multiple-choice options provided are correct.

Step-by-step explanation:

The subject of this question is Mathematics, specifically dealing with basic algebra and financial arithmetic. To solve the problem, we must first calculate the combined value of deposits and withdrawals to the account. The account holder deposited 3 checks for $150 each, adding up to $450 in total ($150 x 3 = $450). Then, they made 4 withdrawals of $20 each, which totals $80 ($20 x 4 = $80). The net change to the account is the deposits minus the withdrawals: $450 - $80 = $370.

The initial balance was -$324, so we need to add the net change to this amount to find the new balance. Therefore, the new balance is -$324 + $370 = $46. Hence, none of the options provided (A) $206, (B) $306, (C) $386, or (D) $416 are correct; the new balance of the account is $46.