Marco is reconstructing his expenses for the past two weeks. Here are the records of his expenses:
| Transaction | Cost ($) |
| :---------- | :------- |
| T-shirt | 20 |
| Gas | 22 |
| Movie | 13 |
| Video game | 39 |
| Jeans | 34 |
| Hat | 15 |
| Books | 31 |
Marco's bank statement says that he has an ending balance of $81. What is Marco's starting balance?
A. $255
B. $93
C. $174
D. $210
Answer (2)
Marco's starting balance is calculated to be $255 after summing his total expenses of $174 and adding it to his ending balance of $81. The final answer is therefore $255.
;
Calculate Marco's total expenses: 20 + 22 + 13 + 39 + 34 + 15 + 31 = 174 .
Add the total expenses to the ending balance to find the starting balance: 81 + 174 = 255 .
Marco's starting balance is $255 .
The final answer is 255 .
Explanation
Understanding the Problem We are given Marco's expenses for the past two weeks and his ending bank balance. We need to find his starting balance. The starting balance can be found by adding up all his expenses and adding that total to his ending balance.
Calculating Total Expenses First, let's calculate Marco's total expenses. We sum the cost of each transaction: 20 + 22 + 13 + 39 + 34 + 15 + 31 = 174 So, Marco's total expenses are $174.
Calculating Starting Balance Now, let's calculate Marco's starting balance. We know that: Starting Balance = Ending Balance + Total Expenses We are given that Marco's ending balance is $81. Therefore: Starting Balance = 81 + 174 = 255 So, Marco's starting balance is $255.
Final Answer Therefore, Marco's starting balance is $255.
Examples
Understanding personal finances is crucial for managing your money effectively. This problem demonstrates how to reconstruct past expenses and determine a starting balance, which is a fundamental skill in budgeting and financial planning. For example, if you want to track your savings or investments, knowing how to calculate your initial balance and subsequent expenses or gains helps you monitor your financial progress and make informed decisions about your spending and investments. This type of calculation is also useful when preparing taxes or applying for loans, where accurate financial records are essential.
