Question

Shirley Cohen wants to verify her deposit to her savings account. Her new balance is $2,675.08, the previous balance was $2,176.49, interest earned was $8.74, and withdrawals totaled $275.00. Find the amount she deposited to her savings account.

Answer 1

$764.85

Step-by-step explanation

Let x be the deposited amount. We know that her current balance is $2,675.08, her withdrawals totaled $275.00 and she earned $8.74 in interest. Also, the previous balance was $2,176.49.

The new balance is equal to her previous balance, plus the deposit, plus the interest earned, minus the withdrawals,

`2176.49+x+8.74-275=2675.08`

Combine like terms,

`\begin{gathered} x+(2176.49+8.74-275)=2675.08 \\ \\ x+1910.23=2675.08 \end{gathered}`

Solve for x,

`x=2675.08-1910.23=764.85`

Hence, her deposit was $764.85.