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? and show work.

Answer 1

So first you need to take 31.96 away from 516.46 which is 484.5 and then work out the difference between 484.5 and 500 which is 15.5 so the answer is 15.5

Answer 2

I will have to deposit $15.50 to avoid charges

Step-by-step explanation:

Checking accounts are accounts that allows withdraw and deposit. But accessing the account requires checks.

The local bank offers free checking to accounts with at least balance of $500.Suppose I have a balance of $516. 46 and I want to write a check of $31.96, to avoid charges I will have to deposit :

$516. 46 - $500 = $16.46

$16.46 is the extra money available to avoid charges but since I want to check more than that I will deposit $15. 50 to evade charges.

$31.96 - $16.46 = $15.50

depositing $15. 50 will make the extra money as $31.96 . so when I withdraw $31.96 , I won't be charged because my balance will be at least $500.