At the start of the month, Stephen’s savings account had a balance of $1,624. He made a $420 withdrawal each week for four weeks. During that month, he also made two deposits of $600 each and one deposit of $1,000. What was the balance in Stephen’s account at the end of the month?

Accepted Solution

Hello! Withdrawals are what you take out of the account. You are subtracting from the total in the account. Deposits are what you put into the account. In other words, you are adding money into the amount. So, $420 dollars was withdrawn for 4 weeks. Let's multiply. 420 * 4 is 1,680. That amount exceeds what's currently in, so the balance becomes negative. 1,624 - 1,680 is -56. That's -$56 balance in the bank account. However. There were also two deposits of $600 made. 600 * 2 is 1,200. -56 + 1,200 is 1,144. And finally, there was a deposit of 1,000. Add that to the balance, and you get 2,144. There. Stephen's account at the end of the month was $2,144.