Question

You open your bank account on April 16 with a tax refund check of $145.00:

a) Initial deposit
b) Account balance
c) Withdrawal transaction
d) Overdraft fee

Answer 1

The initial deposit is $145.00, which is the tax refund check. The account balance is also $145.00. We cannot determine the withdrawal transaction or overdraft fee based on the information provided.

Step-by-step explanation:

The initial deposit is the amount of money that you put into your bank account when you first open it. In this case, the initial deposit is $145.00, which is the tax refund check.

The account balance is the total amount of money in your bank account at any given time. Since the student just opened their account with a $145.00 deposit, the account balance is also $145.00.

A withdrawal transaction is when money is taken out of your bank account. Since there is no information about any withdrawals in the question, we cannot determine the withdrawal transaction.

An overdraft fee is a fee charged by the bank when you withdraw more money from your account than you have available. Since there is no information about any overdrafts in the question, we cannot determine if there will be an overdraft fee.