Matt had $325.64 in his account at the beginning of the month. He wrote checks for $114.23, $68.97, and $11.54. How much must he transfer from his savings to cover a rent check for $250?

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Business

Ayla Nichols

26 September, 09:10

Matt had $325.64 in his account at the beginning of the month. He wrote checks for $114.23, $68.97, and $11.54. How much must he transfer from his savings to cover a rent check for $250?

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Answers (1)

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Trace · Answer 1

Matt needs to make a transfer of $ 119.10

Explanation:

Calculation of current balance of Matt's account

Opening balance $ 325.64

Checks issued $ 114.23

$ 68.97

$ 11.54

Total checks issued $ (194.74)

Existing balance of Matt's account $ 130.90

He needs to issue a new check of $ 250, to cover that he needs to make a transfer of $ 250 - $ 130.90 = $ 119.10