Question

Adam’s bank account has a balance of $1213.69 before he starts spending money. he makes the following transactions: transaction cost ($) car payment 260.16 groceries 97.98 parking ticket 75.00 dvd box set 115.35 antique lamp 68.53 suit 331.84 adam is considering getting his car a new paint job. doing so will have a total cost of $264.83. can adam afford this?

a.yes, he can make the purchase and still have money left over.
b.yes, but doing so will clear out his account.
c.no, purchasing that would overdraw his account.
d.no, he is overdrawn already.

Answer 1

After calculating all of Adam's expenses by subtracting them from his starting account balance, we find that he will have exactly $264.83 left. This is precisely the cost for the new paint job for his car. Therefore, Adam can afford the paint job, but it will clear out his account entirely.

Step-by-step explanation:

The question asks whether Adam can afford a new paint job for his car, which costs $264.83, based on his starting bank account balance and subsequent transactions. After each transaction, we subtract the cost from the starting balance to determine his remaining funds. Let's calculate the remaining balance after Adam's expenditures:

• Starting balance: $1213.69
• Car payment: $1213.69 - $260.16 = $953.53
• Groceries: $953.53 - $97.98 = $855.55
• Parking ticket: $855.55 - $75.00 = $780.55
• DVD box set: $780.55 - $115.35 = $665.20
• Antique lamp: $665.20 - $68.53 = $596.67
• Suit: $596.67 - $331.84 = $264.83

Adam has exactly $264.83 left, which is the exact cost of the paint job. Thus, he can afford the paint job but will have zero balance remaining, making the answer: (B) Yes, but doing so will clear out his account.