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?

Question

Business

Jessie Sims

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?

+5

Answers (2)

Know the Answer?

Zuniga · Answer 1

No, it's because his lowest balance would so far this month has been $1996.18.

Delilah Calderon · Answer 2

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