Question

Mr. Cameron had $367 in his bank account. At the end of the month he had to pay three bill. His telephone bill was $96.40, his gas bill was $203.20, and his electricity bill was $145.30. How much would Mr. Cameron need to pay into his account to clear his overdraft

Answer 1

Explanation:

To give proper answer to this question, one has to understand the meaning of overdraft.

A bank overdraft is amount of credit that covers your transactions if your bank account balance drops below zero.

Mr Cameron balance before the transactions = $367

List of expenses

telephone bill $96.40

gas bill $203.20

Electricity bill $145.30

Total transaction expense:

$96.40+$203.20+$145.30 = $444.9

Overdraft = $367 - $444.9

= - $77.9

So Mr. Cameron has a debt of $77.9 on his account hence to clear the overdraft, he has to pay a minimum of

$77.9 into his bank account and this is also subjected to the bank's terms and conditions which could attract more charge.