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QuestionA student has a balance of -3450. After sending a check for \$2138 and making purchases of \$638 and \$9, what is the new balance?

Studdy Solution

STEP 1

Assumptions1. The initial credit card balance is -3,450.Thestudentsendsachecktothecreditcardcompanyfor3,450. The student sends a check to the credit card company for ,1383. The student makes a purchase with the credit card for 638(camera)<br/>4.Thestudentmakesanotherpurchasewiththecreditcardfor638 (camera)<br />4. The student makes another purchase with the credit card for 9 (film)

STEP 2

First, we need to update the credit card balance after the student sends a check to the credit card company. This can be done by adding the check amount to the initial balance.
New balance=Initial balance+Check amountNew\, balance = Initial\, balance + Check\, amount

STEP 3

Now, plug in the given values for the initial balance and check amount to calculate the new balance.
New balance=−$3,450+$2,138New\, balance = -\$3,450 + \$2,138

STEP 4

Calculate the new balance after the check is sent.
New balance=−$3,450+$2,138=−$1,312New\, balance = -\$3,450 + \$2,138 = -\$1,312

STEP 5

The student then makes a purchase with the credit card. This will increase the balance (make it more negative). We can update the balance by subtracting the purchase amount from the current balance.
Updated balance=New balance−Purchase amountUpdated\, balance = New\, balance - Purchase\, amount

STEP 6

Plug in the values for the new balance and the purchase amount (camera) to calculate the updated balance.
Updated balance=−$1,312−$638Updated\, balance = -\$1,312 - \$638

STEP 7

Calculate the updated balance after the camera purchase.
Updated balance=−$1,312−$638=−$1,950Updated\, balance = -\$1,312 - \$638 = -\$1,950

STEP 8

The student makes another purchase with the credit card (film). We can update the balance by subtracting this purchase amount from the current balance.
Final balance=Updated balance−Film amountFinal\, balance = Updated\, balance - Film\, amount

STEP 9

Plug in the values for the updated balance and the film amount to calculate the final balance.
Final balance=−$,950−$9Final\, balance = -\$,950 - \$9

STEP 10

Calculate the final balance after the film purchase.
Final balance=−$,950−$9=−$,959Final\, balance = -\$,950 - \$9 = -\$,959The new balance on the student's credit card is -$,959.

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