Business, 31.01.2020 17:53 sheilashair

Dominic is looking over his spending pattern for the past week to try to determine how much money he had on sunday. this is dominic’s spending pattern:
day
debit ($)
credit ($)
monday
158

tuesday
69
44
wednesday
175

thursday
131
38
friday

53
saturday
22
14

if the bank charges dominic an overdraft fee of $25 every time he overdraws his account, and dominic overdrew his account on thursday but not on saturday, which of the following is a possible amount of money that dominic could have had in his account last sunday? assume that the only debits and credits not listed are overdraft fees.

a.
$500
b.
$480
c.
$435
d.
$400

Answers: 3

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Answers

I used Excel in solving this problem. In a bank account all debits are deductions from the total balance and all credits are additions to the total balance. Because the problem states that there was an over withdrawal on Thursday but not on Saturday, this means that the ending balance on Thursday was a negative balance. On Saturday, the remaining balance was a positive balance. 500 and 480 as a beginning balance doesn't give a negative balance on Thursday. 400 as a beginning balance gives a negative balance on Thursday as well as Saturday. Thus, the correct answer is 435.

Debit Credit   Balance
Sunday      435
Monday   158 277
Tuesday       69 44   252
Wednesday 175      77
Thursday 131   38 -16
  25   -41 Overdraft fee
Friday 53 12
Saturday 22 14   4

Answer from: kaywendel2008

Answer from: zoelynn7630

The answer to your question is $435.

Answer from: chriscol4082

The answer to your question is $435.

Answer from: Quest

This question seems like it should be quite hard although it reall just wants you to subtract.92-8.7=83.3

Answer from: Quest

answer; automated fingerprint;

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