You deposit a $100 check from a friend in your account. a couple of days later, you buy $45.20 worth of groceries and pay with a check. two days later you receive a note from the bank stating that your friend’s check bounced and you owe the bank a $25 fee. since your friend's check bounced, your account balance was actually $100 less than you thought it was, and the check you wrote to the grocery store bounced. guess what? the bank debited your account another $25 for bouncing the check. it gets worse. the next day you receive a letter from the grocery store that you owe them $25 in fees for the bad check and that you have to pay the original $45.20 with a money order that will cost you $1. calculate how much you actually spent for your groceries.

The correct answer is, $121.2

Explanation:

You went for grocery and paid the bill through check.

Amount of grocery purchased: $45.20

You check bounced and you owe bank $25 because you didn't have much balance in your account that you paid for the groceries.

Your bank did an additional transaction of debiting your account with $25 for the bouncing of your check.

Grocery store sent you the letter to tell that you owe them $25 for the bounced check

You will have to pay again $45.20

Money order fee: $1

So the amount that you actually spent on groceries would be:

$45.2(real grocery amount) + $25(you owe to bank for bouncing your friend's check) + $25( Your check bounced) + $25(grocery store charged due to bounced check) + $1(money order)

= $121.2

So you are actually charged $ 121.2 for the groceries.

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