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13 June, 09:58

Ramon's checking account requires that he maintain a minimum balance of $2000 to avoid a monthly service fee, and his balance at the beginning of this month was $2183.62. If Ramon's transactions so far this month have been a direct deposit of $562.56 on the 3rd of the month, a check written by Ramon on the 6th of the month to his landlord for $750 that cleared the next day, and a cash deposit of $100 on the 9th of the month, has Ramon been able to avoid the monthly service fee?

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Answers (2)
  1. 13 June, 10:15
    0
    No, it's because his lowest balance would so far this month has been $1996.18.
  2. 13 June, 12:17
    0
    Yes. after all transactions are completed, Ramon will still be left with a minimum balance of $2096.18; meaning that he absolutely avoided the monthly service fee
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