After a series of deposits and withdrawals, what is the new bank balance if you started with $2,754.40 and made multiple transactions?

Prepare for the Statistics, Modeling and Finance Exam. Leverage flashcards and multiple choice questions with detailed explanations. Achieve exam success!

To determine the new bank balance, we start with the initial amount of $2,754.40 and consider the effects of various deposits and withdrawals that occur throughout the transaction process.

The final balance, which is indicated as $3,212.78, suggests a net increase in the account due to either deposits exceeding withdrawals or a smaller amount of withdrawals compared to the initial balance.

To reach this final amount, various combinations of deposits and withdrawals must be accurately calculated and summed. For example, if there were some deposits totaling a certain amount and withdrawals remaining relatively lower, this would effectively increase the balance to the stated amount of $3,212.78. Thus, it reflects a positive outcome of the transactions.

This result aligns with the balance figures one would expect following a sequence of deposits and withdrawals, with the important factor being that total deposits surpass total withdrawals to result in a positive change.

Consequently, option B rightly reflects the amount that follows the understanding of how bank transactions would typically affect an account balance.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy