Question

your local bank offers free checking for accounts with a balance of at least $500. suppose you have a balance of $516.46 and you write a check for 31.96.how much do you need to deposit to avoid being charged a service fee

Answer 1

Explanation:

First, we need to find your balanced after writing the check:

$

516.46

−

$

31.96

=

$

484.50

Now to find out how much you need to deposit we need to determine how much under $500 your bank account balance is. We do this by subtracting your current balance from $500:

$

500.00

−

$

484.50

=

$

15.50

You need to deposit at least

$

15.50

to avoid being charged a service fee.

Answer 2

You need to deposit $15.50

$516.46 - $31.96 = $484.50

You need at least $500 for free checking .

$484.50 + $15.50 = $500