Question

Selina has a balance of $1,200 in her first state bank checking account. She deposits a $387.89 paycheck, a $437.12 dividend check, and a personal check for $250 into her account. She wants to receive $400 in cash. How much will she have in her account after the transaction?

a) $2,074.01
b) $2,125.01
c) $1,624.01
d) $1,977.01

Answer 1

Selina will have $1,875.01 in her account after depositing her paycheck, dividend check, personal check, and withdrawing $400. The correct answer was not provided in the options.The correct answer is not listed in the options provided by the student, as Selina will have $1,875.01 in her account after all transactions.

Step-by-step explanation:

Selina initially has a balance of $1,200 in her checking account. She makes a series of deposits: a $387.89 paycheck, a $437.12 dividend check, and a personal check for $250. Then, she withdraws $400 in cash. To find the new balance in her account, we calculate:

1. Sum of deposits: $387.89 (paycheck) + $437.12 (dividend) + $250.00 (personal check) = $1,075.01
2. Total balance after deposits: $1,200.00 (initial balance) + $1,075.01 (deposits) = $2,275.01
3. Final balance after withdrawing cash: $2,275.01 - $400.00 = $1,875.01