How to Calculate the New Checking Account Balance After a Transaction?
Question:
If Sarah has a savings account balance of $1,200.50 and she withdraws $350.25, what is Sarah's new savings account balance?
Answer:
Sarah's new savings account balance will be $850.25.
Calculating the new balance in a savings account after a withdrawal involves subtracting the amount withdrawn from the previous balance. In this case, Sarah's old balance was $1,200.50. When she withdraws $350.25, we subtract that amount from her old balance:
$1,200.50 - $350.25 = $850.25
So, Sarah's new savings account balance is $850.25.