Question

Ray had a balance of $145 in his bank account. He then spent $15 for stationery, $50 for food, and $60 for gas. Now he has a balance of $20. After spending money on stationery, food, and gas, Ray has a _____ balance. He ________

A) negative balance and has $20 in his account
B) positive balance and owes the bank $20

Answer 1

Ray has a positive balance of $20 remaining in his account after spending money on various expenses.

Step-by-step explanation:

After spending money on stationery, food, and gas, Ray has a positive balance. He does not owe the bank money; instead, he has a balance of $20 remaining in his account. We can determine this by calculating the total amount Ray spent and subtracting it from his initial balance:

• Initial Balance: $145
• Stationery: -$15
• Food: -$50
• Gas: -$60
• Remaining Balance: Calculated by adding the expenses (which are negative) to the initial balance: $145 - $15 - $50 - $60 = $20

Therefore, the correct answer is: "After spending money on stationery, food, and gas, Ray has a positive balance. He does not owe the bank money."