Using a Debit Card Answers

Sandy is trying to reconstruct her spending pattern from July. She knows that she had $277 in her account on July 1, but after that, her receipts and balance statements are all scrambled. Here are Sandy’s records:DateTransaction TypeAmount ($)7/26Purchase867/25Deposit767/4Purchase1377/6Deposit907/10Purchase1317/9Purchase1457/15Deposit1527/19Purchase137Assuming that this is a complete, if scrambled, record of Sandy’s July spending and that any overdraft fees incurred do not affect the running total, how many times did Sandy overdraw her account in July?a.Sandy never overdrew her account.b.Sandy only overdrew her account once.c.Sandy overdrew her account twice.d.Sandy overdrew her account more than twice.

Isabelle has $84.00 in her account on Sunday. Over the next week, she makes the following changes to her balance via deposits and purchases: Day Debit ($) Credit ($) Monday 22.35 --- Tuesday 47.60 10.29 Wednesday 15.44 --- Thursday 11.25 --- Friday 9.78 22.69 Saturday 30.54 18.86 On which day or days does Isabelle get charged an overdraft fee? I. Thursday II. Friday III. Saturday a. I only b. I and III c. II and III d. III only Please select the best answer from the choices provided

Ted is looking over his spending pattern for the past week to try to determine how much money he had on Sunday. This is Ted's spending pattern:DayDebit ($)Credit ($)Monday112---Tuesday14118Wednesday56---Thursday2870Friday2242Saturday1688If the bank charges Ted an overdraft fee of $25 every time he overdraws his account, and Ted overdrew his account on Wednesday but not on Friday, which of the following is a possible amount of money that Ted could have had in his account last Sunday? Assume that the only debits and credits not listed are overdraft fees.a.$300b.$280c.$240d.$200

Bob’s bank charges him a $3.15 service fee every time he uses an out-of-network ATM. If Bob uses an out-of-network ATM an average of three times every two weeks, how much will he pay in service fees over the course of a year?a.$327.60b.$109.20c.$491.40d.$245.70

Frank has $66.50 in his account on Sunday. Over the next week, he makes the following changes to his balance via deposits and purchases:DayDebit ($)Credit ($)Monday60.3380.75Tuesday54.45---Wednesday49.2015.00Thursday35.40---Friday16.8575.00Saturday80.56---On what day does Frank first get charged an overdraft fee?a.Wednesdayb.Thursdayc.Fridayd.Saturday

Richard has $652 in his account and is planning a road trip. He looks at how expensive hotels and sightseeing costs are in certain cities, planning accordingly:CityCost ($)Detroit196.87Pittsburgh180.32St. Paul102.87Cincinnati155.81Richmond211.86When Richard makes the calculations, he finds he does not have enough money to visit each city. What is the cheapest city that Richard can drop to avoid overdrawing his account?a.Richmondb.Detroitc.Pittsburghd.Cincinnati

Evelyn spent the day shopping and made the following purchases:ItemCost ($)Camera66.31Hat13.44Parking8.00Planner9.78When Evelyn was done, she checked her account balance and found she had a total of $208.16. How much money was in Evelyn’s account to begin with?a.$110.63b.$305.69c.$315.47d.$97.53

Adam’s bank account has a balance of $1213.69 before he starts spending money. He makes the following transactions:TransactionCost ($)Car payment260.16Groceries97.98Parking ticket75.00DVD box set115.35Antique lamp68.53Suit331.84Adam is considering getting his car a new paint job. Doing so will have a total cost of $264.83. Can Adam afford this?a.Yes, he can make the purchase and still have money left over.b.Yes, but doing so will clear out his account.c.No, purchasing that would overdraw his account.d.No, he is overdrawn already.

Danielle has $127.02 in her account before making any transactions. Over the course of a week, Danielle makes the following transactions:TransactionDebit ($)Credit ($)Birthday check---75.00Night out66.14---Garage sale proceeds---121.58Charitable donation42.25---Doctor’s appointment115.30---At the end of the week, how much money is in Danielle’s account? a.$99.91b.$27.11c.$184.41d.$142.16