Question

Gary and Ann have a joint checking account. Their balance at the beginning of October was $9,145.87. During the month the made deposits totaling $2,783.71, wrote checks totaling $4,871.90, paid a maintenance fee of $12, and earned $11.15 in interest on the account. What was the balance at the end of the month?

Answer 1

To find the balance at the end of the month, you can follow these steps:

1. Start with the initial balance: $9,145.87
2. Add the total deposits: $2,783.71
3. Subtract the total checks: $4,871.90
4. Subtract the maintenance fee: $12
5. Add the interest earned: $11.15

Let's calculate:

Initial balance: $9,145.87
+ Deposits: $2,783.71
- Checks: $4,871.90
- Maintenance fee: $12
+ Interest earned: $11.15

Balance at the end of the month:
$9,145.87 + $2,783.71 - $4,871.90 - $12 + $11.15 = $6,056.93

So, the balance at the end of the month is $6,056.93