Anna Has $274.00 In Her Account On Sunday. Over The Next Week, She Makes The Following Changes To Her Balance Via Deposits And Purchases: [ \begin{tabular}{|c|r|r|} \hline \text{Day} & \text{Debit ($)} & \multicolumn{1}{|c|}{\text{Credit
Introduction
In this article, we will delve into the world of mathematics and explore the concept of account balances. We will use a real-life scenario to demonstrate how to calculate and track changes in an account balance over a period of time. Our protagonist, Anna, starts with a balance of $274.00 on Sunday and makes various deposits and purchases throughout the week. We will use mathematical concepts to analyze and understand the changes in her account balance.
The Initial Balance
Anna begins with a balance of $274.00 in her account on Sunday. This is the starting point for our analysis.
Initial Balance: $274.00
| Day | Debit ()| Balance ($)|
| --- | --- | --- | --- |
| Sunday | 0 | 274.00 | 274.00 |
Monday's Transactions
On Monday, Anna makes a purchase of $15.00 and receives a deposit of $20.00. We will use these transactions to update her account balance.
Monday's Transactions
| Day | Debit ()| Balance ($)|
| --- | --- | --- | --- |
| Sunday | 0 | 274.00 | 274.00 |
| Monday | -15.00 | 20.00 | 279.00 |
Tuesday's Transactions
On Tuesday, Anna makes a purchase of $30.00 and receives a deposit of $25.00. We will use these transactions to update her account balance.
Tuesday's Transactions
| Day | Debit ()| Balance ($)|
| --- | --- | --- | --- |
| Sunday | 0 | 274.00 | 274.00 |
| Monday | -15.00 | 20.00 | 279.00 |
| Tuesday | -30.00 | 25.00 | 274.00 |
Wednesday's Transactions
On Wednesday, Anna makes a purchase of $40.00 and receives a deposit of $35.00. We will use these transactions to update her account balance.
Wednesday's Transactions
| Day | Debit ()| Balance ($)|
| --- | --- | --- | --- |
| Sunday | 0 | 274.00 | 274.00 |
| Monday | -15.00 | 20.00 | 279.00 |
| Tuesday | -30.00 | 25.00 | 274.00 |
| Wednesday | -40.00 | 35.00 | 269.00 |
Thursday's Transactions
On Thursday, Anna makes a purchase of $50.00 and receives a deposit of $45.00. We will use these transactions to update her account balance.
Thursday's Transactions
| Day | Debit ()| Balance ($)|
| --- | --- | --- | --- |
| Sunday | 0 | 274.00 | 274.00 |
| Monday | -15.00 | 20.00 | 279.00 |
| Tuesday | -30.00 | 25.00 | 274.00 |
| Wednesday | -40.00 | 35.00 | 269.00 |
| Thursday | -50.00 | 45.00 | 264.00 |
Friday's Transactions
On Friday, Anna makes a purchase of $60.00 and receives a deposit of $55.00. We will use these transactions to update her account balance.
Friday's Transactions
| Day | Debit ()| Balance ($)|
| --- | --- | --- | --- |
| Sunday | 0 | 274.00 | 274.00 |
| Monday | -15.00 | 20.00 | 279.00 |
| Tuesday | -30.00 | 25.00 | 274.00 |
| Wednesday | -40.00 | 35.00 | 269.00 |
| Thursday | -50.00 | 45.00 | 264.00 |
| Friday | -60.00 | 55.00 | 259.00 |
Saturday's Transactions
On Saturday, Anna makes a purchase of $70.00 and receives a deposit of $65.00. We will use these transactions to update her account balance.
Saturday's Transactions
| Day | Debit ()| Balance ($)|
| --- | --- | --- | --- |
| Sunday | 0 | 274.00 | 274.00 |
| Monday | -15.00 | 20.00 | 279.00 |
| Tuesday | -30.00 | 25.00 | 274.00 |
| Wednesday | -40.00 | 35.00 | 269.00 |
| Thursday | -50.00 | 45.00 | 264.00 |
| Friday | -60.00 | 55.00 | 259.00 |
| Saturday | -70.00 | 65.00 | 254.00 |
Conclusion
In this article, we have used mathematical concepts to analyze and understand the changes in Anna's account balance over a period of time. We have demonstrated how to calculate and track changes in an account balance using debit and credit transactions. By using a real-life scenario, we have made the concept of account balances more accessible and easier to understand.
Mathematical Concepts Used
- Debit and Credit Transactions: We have used debit and credit transactions to update Anna's account balance.
- Account Balance: We have calculated and tracked changes in Anna's account balance over a period of time.
- Mathematical Operations: We have used mathematical operations such as addition and subtraction to calculate the changes in Anna's account balance.
Real-Life Applications
- Banking: The concept of account balances is used in banking to track changes in customer accounts.
- Finance: The concept of account balances is used in finance to track changes in investments and assets.
- Business: The concept of account balances is used in business to track changes in company accounts and finances.
Conclusion
Introduction
In our previous article, we explored the concept of account balances using a real-life scenario. We calculated and tracked changes in Anna's account balance over a period of time using debit and credit transactions. In this article, we will answer some frequently asked questions related to account balances and mathematical concepts.
Q&A
Q1: What is an account balance?
A1: An account balance is the total amount of money in a bank account or a financial account. It is calculated by adding all the deposits and subtracting all the withdrawals.
Q2: How do debit and credit transactions affect an account balance?
A2: Debit transactions decrease an account balance, while credit transactions increase an account balance. For example, if you make a purchase of $100, the debit transaction will decrease your account balance by $100. On the other hand, if you receive a deposit of $100, the credit transaction will increase your account balance by $100.
Q3: What is the difference between a debit and a credit?
A3: A debit is a transaction that decreases an account balance, while a credit is a transaction that increases an account balance. For example, if you write a check to pay a bill, the debit transaction will decrease your account balance. On the other hand, if you receive a refund, the credit transaction will increase your account balance.
Q4: How do I calculate my account balance?
A4: To calculate your account balance, you need to add all the deposits and subtract all the withdrawals. You can use the following formula:
Account Balance = (Deposits + Interest) - (Withdrawals + Fees)
Q5: What is the importance of account balances in real-life applications?
A5: Account balances are essential in various real-life applications, such as banking, finance, and business. They help individuals and organizations track their financial transactions and make informed decisions about their finances.
Q6: Can I use account balances to track my expenses?
A6: Yes, you can use account balances to track your expenses. By monitoring your account balance regularly, you can identify areas where you can cut back on unnecessary expenses and make adjustments to your budget.
Q7: How do I maintain a healthy account balance?
A7: To maintain a healthy account balance, you need to make regular deposits and avoid unnecessary withdrawals. You should also monitor your account balance regularly and make adjustments to your budget as needed.
Q8: What happens if I have a negative account balance?
A8: If you have a negative account balance, it means that you owe money to the bank or financial institution. You will need to make a deposit or payment to bring your account balance back to zero.
Q9: Can I use account balances to calculate my net worth?
A9: Yes, you can use account balances to calculate your net worth. Net worth is the total value of your assets minus your liabilities. By adding up your account balances and subtracting your liabilities, you can calculate your net worth.
Q10: How do I use account balances to make informed financial decisions?
A10: To use account balances to make informed financial decisions, you need to monitor your account balance regularly and make adjustments to your budget as needed. You should also consider your financial goals and make decisions that align with those goals.
Conclusion
In conclusion, account balances are a fundamental mathematical concept that is used in various real-life applications. By understanding how to calculate and track account balances, you can make informed financial decisions and achieve your financial goals. We hope this Q&A article has provided you with a better understanding of account balances and mathematical concepts.