Rob's Financial Journey

What is Rob's checking account balance?

A. $32

B. $34

C. $33

D. $47

Answer:

33

Explanation:

1+77+38=116 then he spent money, so 116-25-8-12=71. but then his mother told him to put the money into his savings account, so he withdrew the tip money ($38). so it's 71-38, which equals 33.

For the conditions given above, it can be concluded to state that the bank balance of Rob's checking account for the said transactions during the period will amount to a total of $33. Therefore, the option C holds true.

What is the significance of bank balance?

Bank balance can be referred to or considered as the total amount of monies available in the bank account of an account holder. It is important to note that there may be restrictions on disposing off these balances from the bank account.

For the above situation, the end balance of the bank will be,

Closing Balance = Opening Balance + Deposits – Withdrawals

Closing Balance = 1+77+37-25-8-12-37

Closing Balance = $33

Therefore, the option C holds true and states regarding the significance of a bank balance.