Question

During a phone call, Beyunka was told of the most recent transactions in her company's business account. There were deposits of $1, 250 and $3,040.57, three withdrawals of $400 each, and the bank removed two separate $35 penalties to the account that resulted from the bank's errors. Based on the information, how much did the balance of the account change?

Answer 1

The amount of change in the balance of the account is an increase of $3160.57.

Explanation:

i) first deposit is given as $1250

ii) second deposit is given as $3040.57

iii) first withdrawal is given as $400

iv) second withdrawal is given as $400

v) third withdrawal is given as $400

vi) first penalty removed is $35

vii) second penalty removed is $35

viii) therefore the change to the balance is given by

$1250 + $3040.57 - $400 - $400 - $400 + $35 + $35 = $3160.57

viii) Therefore the amount of change in the balance of the account is an increase of $3160.57.