Question

If checks for $73.85, $106.19, and $1,078.19 were written on a balance of $3,007.16, what is the new balance?

a) $1,748.33
b) $1,748.13
c) $1,748.23
d) $1,748.43

Answer 1

After writing checks for $73.85, $106.19, and $1,078.19, the new balance is calculated by subtracting the total amount of the checks from the initial balance of $3,007.16. The new balance is calculated to be $1,748.93, but this does not match any of the given options which likely indicates a typo in the question.

Step-by-step explanation:

To determine the new balance after writing checks, we need to subtract the total amount of the checks from the initial balance. In this case, the checks written are for $73.85, $106.19, and $1,078.19. Firstly, we add up these three amounts to find the total expenditure which is:

$73.85 + $106.19 + $1,078.19 = $1,258.23

Now, we subtract this total from the initial balance of $3,007.16:

$3,007.16 - $1,258.23 = $1,748.93

It seems there might be a mistake in the options provided, as none of them match the calculated result. Our accurate calculation results in the new balance being $1,748.93.