Question

Sue’s bank account has a balance of $899. 83 before she starts spending money. She makes the following transactions: Transaction Cost ($) Rent 353. 76 Video game 32. 79 Bike maintenance 60. 26 Jacket 55. 62 Rug 80. 40 Night out 35. 77 Sue is considering splitting the cost of a new TV with her roommate. Her share would be $305. 22. Can Sue afford this? a. Yes, she can make the purchase and have money left over. B. Yes, but doing so will clear out her account. C. No, making that purchase will overdraw her account. D. No, she is overdrawn already. Please select the best answer from the choices provided A B C D.

Answer 1

Answer:

Sue cannot afford to split the cost of a new TV, as she only has $281.23 in her bank account after transactions. She has to contribute $302.22 and but she  doesn't have enough money.

Explanation:

Item                                                        Debit Credit  Balance

Bank balance before transactions                     899.83

Rent                                                 353.76            546.07

Video game                                           32.79            513.28

Bike maintenance                                   60.26           453.02

Jacket                                                   55.62           397.40

Rug                                                           80.40            317 .00

Night out                                           35.77            281.23

Sues bank balance after all the transactions is $281.23