Problem 60 - Prealgebra

Question

A checking account contains \(\$ 342.38\). If checks are written for \(\$ 25.04, \$ 36.71,\) and \(\$ 210,\) how much money is left in the account?

Step-by-Step Solution

Answer

The final balance is $70.63.

Step 1: Initial Account Balance

Start by observing the initial account balance, which is given as \( \$ 342.38 \).

Step 2: Deduct First Check Amount

The first check written amounts to \( \$ 25.04 \). Subtract this from the initial balance: \( 342.38 - 25.04 = 317.34 \).

Step 3: Deduct Second Check Amount

Next, deduct the second check amount of \( \$ 36.71 \) from the remaining balance: \( 317.34 - 36.71 = 280.63 \).

Step 4: Deduct Third Check Amount

Finally, deduct the third check amount of \( \$ 210 \) from the current balance: \( 280.63 - 210 = 70.63 \).

Step 5: Determine Final Balance

The remaining balance in the account after all deductions is \( \$ 70.63 \).

Key Concepts

Understanding Subtraction

Subtraction is one of the basic arithmetic operations. It allows us to determine how much remains after taking away a certain quantity from another. In problems like checking the balance of a bank account after writing checks, we must subtract the amounts of each check from the initial balance.

For example, if your checking account starts with \( \\(342.38 \) and you write a check for \( \\)25.04 \), you perform the subtraction \( 342.38 - 25.04 \). This is how you find out how much money is left after the expense.

• Make sure to line up decimal points when subtracting.
• Don't forget to borrow from the next column if needed during subtraction.

Practicing subtraction with real-life scenarios helps improve both your math skills and financial insights.

Money Management Essentials

Money management involves responsibly handling your finances, such as budgeting and tracking expenses. For a checking account, it's crucial to keep a detailed track of all transactions to avoid overspending.

One key strategy is recording every financial transaction, like when you write checks or receive direct deposits. This way, you always know how much money is available in your account.

• Monitor your account balance regularly to avoid overdraft fees.
• Plan your spending in advance to help control expenses.

Effective money management fosters financial stability and helps you make informed decisions, ensuring peace of mind about your finances.

Basic Arithmetic Operations

Basic arithmetic operations include addition, subtraction, multiplication, and division. These operations are fundamental for solving everyday mathematics problems, like maintaining a bank account. In this context, subtraction is primarily used to calculate the remaining balance after payments.

It's important to master arithmetic as they form the foundation for all mathematical calculations.

• Understanding these operations can help solve more complex math problems.
• Accuracy with basic arithmetic increases confidence in handling real-world financial situations.

Practice solving simple arithmetic problems regularly to enhance both speed and precision.

Enhancing Problem-Solving in Mathematics

Problem-solving in mathematics involves applying concepts and strategies to find solutions to mathematical problems. When handling checking account balances, problem-solving skills help manage finances effectively.

To solve financial math problems:

• Read and understand the problem statement thoroughly.
• Identify the arithmetic operation required to solve the problem, like what to subtract or add.
• Perform calculations carefully to find the solution.

By practicing regular problem-solving, you enhance your ability to apply math concepts to real-life situations. This skill not only aids in academic contexts but also in personal financial management.