Answer to Question #238663 in Financial Math for Evlyn Namelo

Question

Steven had a balance of $1,200 in his first stare bank checking account. He deposits a $387.89 paycheck, a $437.12 dividend check, and a personal check for $250 into his account. He wants to receive $400 in cash. How much will he have in his account after the transaction?

Answer 1

Steven had $1,200 in his checking account. Then he deposits a $387.89

Hence have $1200+387.89=1587.80 dollars$

Also he puts j$437.12 dividend check, and a personal check for $250

Therefore his account now has

$1587.80+437.12+250=2275.01$

But because he wants to obtain cash $400, he will have

$2275.01-400=1875.01dollars$

Hence after all those transactions Steven will have on his account $1875.01dollars$