Jaya’s monthly bank statement showed the following deposits and withdrawals:
$31.87,-$34.19,858.47. $48.57,-$13.16
Calculator
If Jaya’s balance in the account was $94.42 at the beginning of the month, what was the account balance at the end of the month?
The correct answer and explanation is:
To calculate Jaya’s account balance at the end of the month, we need to account for both deposits and withdrawals. Here is a breakdown:
Step 1: Start with the initial balance
The starting balance in Jaya’s account is $94.42.
Step 2: Add deposits
Jaya made the following deposits:
- $31.87
- $858.47
- $48.57
Adding these deposits to the starting balance:
- $94.42 + $31.87 = $126.29
- $126.29 + $858.47 = $984.76
- $984.76 + $48.57 = $1033.33
Step 3: Subtract withdrawals
Jaya made the following withdrawals:
- -$34.19
- -$13.16
Subtracting these from the balance:
- $1033.33 – $34.19 = $999.14
- $999.14 – $13.16 = $985.98
Final balance
After accounting for both deposits and withdrawals, Jaya’s account balance at the end of the month is $985.98.
Explanation:
To find the final balance, you simply need to apply the basic operations of addition and subtraction. Start with the initial balance and add the deposits to it, then subtract the withdrawals. The process is straightforward, but it’s essential to handle the positive and negative values correctly. Each deposit increases the balance, while each withdrawal decreases it. After completing these operations, you arrive at the final account balance.