Question

Your bank balance is $102.25, and you've just made purchases for $520, $583.33, and $52.30. You then make deposits of $25 and $24.75. What's your new balance?

A. $22.97
B. $77.28
C. $55.03
D. $78.20

Answer 1

To calculate the new balance, subtract the total purchases from the initial balance and add the total deposits. The correct answer is -$3.63.

Step-by-step explanation:

To calculate the new balance, we need to subtract the total purchases and add the total deposits from the initial bank balance.

Step 1: Subtract the total purchases from the initial balance: $102.25 - $520 - $583.33 - $52.30 = -$53.38.

Step 2: Add the total deposits to the previous result: -$53.38 + $25 + $24.75 = -$3.63.

Therefore, the new balance is -$3.63. Option D, $78.20, is not the correct answer.