Jaya’s monthly bank statement showed the following deposits and withdrawals:
$31.87, -$34.19, -$58.47, $48.57, -$13.16
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 find Jaya’s account balance at the end of the month, we need to add or subtract the deposits and withdrawals to her initial balance of $94.42.
Starting balance: $94.42
- First, add the deposit of $31.87: 94.42+31.87=126.2994.42 + 31.87 = 126.29 The balance after the first deposit is $126.29.
- Next, subtract the withdrawal of $34.19: 126.29−34.19=92.10126.29 – 34.19 = 92.10 The balance after the first withdrawal is $92.10.
- Then, subtract the next withdrawal of $58.47: 92.10−58.47=33.6392.10 – 58.47 = 33.63 The balance after the second withdrawal is $33.63.
- Add the deposit of $48.57: 33.63+48.57=82.2033.63 + 48.57 = 82.20 The balance after the second deposit is $82.20.
- Finally, subtract the last withdrawal of $13.16: 82.20−13.16=69.0482.20 – 13.16 = 69.04 The balance after the last withdrawal is $69.04.
Thus, at the end of the month, Jaya’s account balance is $69.04.
Explanation:
Each transaction on Jaya’s statement either increases or decreases her account balance. Deposits are added, while withdrawals are subtracted. By systematically applying each of these changes in sequence, we arrive at the final account balance. The key here is maintaining the correct order of operations, adding deposits first and then subtracting withdrawals to track the balance accurately.