$135.00 on 04-01. | Depositor: Amy Bently Account # 08-21235-4 | |---|---|---|---|---|---| | Date | Interest | Deposit | Withdrawal | Balance | | 03-01 | | | | $626.00 | | 03-01 | $6.26 | | | $632.26 | | 03-02 | | $$\square$$ | | $$\square$$ | | 03-15 | | | $$\square$$ | $$\square$$ | | 03-30 | | | $$\square$$ | $$\square$$ | | 04-01 | | $$\square$$ | | $$\square$$ |
Answer (2)
Define the deposit on 03-02 as D 1 , the withdrawal on 03-15 as W 1 , and the withdrawal on 03-30 as W 2 .
Calculate the balance after each transaction by adding deposits and subtracting withdrawals from the previous balance.
Express the missing balances in terms of D 1 , W 1 , and W 2 .
The final balance on 04-01 is $767.26 + D 1 − W 1 − W 2 .
Explanation
Understanding the Problem We are given a bank statement with some missing values for deposits, withdrawals, and balances. Our goal is to fill in the missing values as much as possible, expressing the unknown values in terms of variables if necessary.
Defining Variables Let's denote the deposit on 03-02 as D 1 , the withdrawal on 03-15 as W 1 , and the withdrawal on 03-30 as W 2 . We know the deposit on 04-01 is $135.00 .
Calculating Balance on 03-02 The balance on 03-01 after the interest is $632.26 . On 03-02, a deposit of D 1 is made. So, the balance after the deposit on 03-02 is 632.26 + D 1 .
Calculating Balance on 03-15 On 03-15, a withdrawal of W 1 is made. So, the balance after the withdrawal on 03-15 is 632.26 + D 1 − W 1 .
Calculating Balance on 03-30 On 03-30, a withdrawal of W 2 is made. So, the balance after the withdrawal on 03-30 is 632.26 + D 1 − W 1 − W 2 .
Calculating Balance on 04-01 On 04-01, a deposit of $135.00 is made. So, the balance after the deposit on 04-01 is 632.26 + D 1 − W 1 − W 2 + 135.00 = 767.26 + D 1 − W 1 − W 2 .
Final Answer Therefore, the missing values are:
03-02 Deposit: D 1
03-02 Balance: $632.26 + D 1
03-15 Withdrawal: W 1
03-15 Balance: $632.26 + D 1 − W 1
03-30 Withdrawal: W 2
03-30 Balance: $632.26 + D 1 − W 1 − W 2
04-01 Deposit: $135.00
04-01 Balance: $767.26 + D 1 − W 1 − W 2
Examples
Bank statements are a fundamental tool for managing personal and business finances. Understanding how deposits, withdrawals, and interest affect your balance is crucial for budgeting and financial planning. By tracking these transactions, you can monitor your spending habits, identify potential errors, and ensure that your financial records are accurate. This exercise demonstrates the importance of maintaining organized financial records and understanding basic arithmetic operations in a real-world context.
To fill in the missing values from the bank statement, we define variables for the deposit and withdrawals, then calculate the balance at each step. Specifically, the final balance on 04-01 can be expressed as 767.26 + D 1 − W 1 − W 2 after accounting for all transactions. This shows how deposits and withdrawals affect the overall balance.
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