Question

1. Mario has a balance of $1,600 in his First State Bank checking account. He deposits a $537.89

paycheck, a $621.12 dividend check, and a personal check for $200 into his account. He wants to
receive $500 in cash. How much will he have in his account after the transaction?

Answer 1

$858.01

Explanation:

To find out how much Mario will have in his account after the transaction, we need to calculate the total amount of money he is depositing and subtract the amount of cash he wants to withdraw.

First, let's add up the deposits:

- Paycheck: $537.89

- Dividend check: $621.12

- Personal check: $200.00

To find the total deposit amount, we add these numbers together:

$537.89 + $621.12 + $200.00 = $1,358.01

So, the total deposit amount is $1,358.01.

Next, we subtract the amount of cash Mario wants to withdraw from the total deposit amount:

$1,358.01 - $500.00 = $858.01

Therefore, Mario will have $858.01 in his account after the transaction.

So, Mario will have $858.01 in his account after the transaction.