How to Calculate the New Checking Account Balance After a Transaction?

12 Apr 2023

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Calculating the new balance in a savings account after a withdrawal involves subtracting the amount withdrawn from the previous balance.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.

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