Elizabeth Has $ 252.00 \$252.00 $252.00 In Her Account On Sunday. Over The Next Week, She Makes The Following Changes To Her Balance Via Deposits And Purchases:[\begin{tabular}{|c|r|r|}\hline Day & \text{Debit ($)} & \text{Credit ($)} \\hline Monday &
Introduction
In this article, we will delve into the world of mathematics and explore the concept of account balances. We will use a real-life scenario to demonstrate how to calculate and analyze changes in an account balance over a period of time. Our protagonist, Elizabeth, has in her account on Sunday and makes various deposits and purchases throughout the week. We will use a table to track her transactions and calculate the resulting balance.
The Transactions
Elizabeth's account balance changes over the next week are as follows:
| Day | Debit ($) | Credit ($) |
|---|---|---|
| Monday | ||
| Tuesday | ||
| Wednesday | ||
| Thursday | ||
| Friday | ||
| Saturday | ||
| Sunday |
Calculating the Balance
To calculate Elizabeth's account balance, we need to add up all the credits and subtract all the debits. Let's start with Monday:
| Day | Debit ($) | Credit ($) | Balance |
|---|---|---|---|
| Monday |
Since there are no transactions on Monday, the balance remains the same: .
Tuesday
On Tuesday, Elizabeth makes a deposit of . We add this to the previous balance:
| Day | Debit ($) | Credit ($) | Balance |
|---|---|---|---|
| Tuesday | 100.00 | 352.00 |
The new balance is .
Wednesday
On Wednesday, Elizabeth makes a purchase of . We subtract this from the previous balance:
| Day | Debit ($) | Credit ($) | Balance |
|---|---|---|---|
| Wednesday | 75.00 | 277.00 |
The new balance is .
Thursday
On Thursday, Elizabeth makes a deposit of . We add this to the previous balance:
| Day | Debit ($) | Credit ($) | Balance |
|---|---|---|---|
| Thursday | 50.00 | 327.00 |
The new balance is .
Friday
On Friday, Elizabeth makes a purchase of . We subtract this from the previous balance:
| Day | Debit ($) | Credit ($) | Balance |
|---|---|---|---|
| Friday | 25.00 | 302.00 |
The new balance is .
Saturday
On Saturday, Elizabeth makes a deposit of . We add this to the previous balance:
| Day | Debit ($) | Credit ($) | Balance |
|---|---|---|---|
| Saturday | 75.00 | 377.00 |
The new balance is .
Sunday
On Sunday, Elizabeth makes a purchase of . We subtract this from the previous balance:
| Day | Debit ($) | Credit ($) | Balance |
|---|---|---|---|
| Sunday | 100.00 | 277.00 |
The new balance is .
Conclusion
In this article, we analyzed Elizabeth's account balance over a period of one week. We used a table to track her transactions and calculated the resulting balance. We saw that Elizabeth's balance changed due to various deposits and purchases, and we were able to calculate the final balance on Sunday.
Mathematical Concepts
This article demonstrates the following mathematical concepts:
- Addition: We added credits to the previous balance to calculate the new balance.
- Subtraction: We subtracted debits from the previous balance to calculate the new balance.
- Basic arithmetic operations: We used basic arithmetic operations such as addition and subtraction to calculate the new balance.
Real-World Applications
This article has real-world applications in the following areas:
- Accounting: This article demonstrates how to calculate and analyze changes in an account balance over a period of time.
- Finance: This article shows how to use mathematical concepts to calculate and analyze financial transactions.
- Business: This article demonstrates how to use mathematical concepts to make informed business decisions.
Future Directions
In the future, we can explore more complex mathematical concepts and their applications in real-world scenarios. Some possible future directions include:
- Compound interest: We can explore how compound interest affects account balances over time.
- Inflation: We can analyze how inflation affects account balances over time.
- Investments: We can explore how investments affect account balances over time.
Introduction
In our previous article, we analyzed Elizabeth's account balance over a period of one week. We used a table to track her transactions and calculated the resulting balance. In this article, we will answer some frequently asked questions about Elizabeth's account balance.
Q: What is Elizabeth's initial account balance?
A: Elizabeth's initial account balance is on Sunday.
Q: What is the total amount of credits Elizabeth receives over the week?
A: The total amount of credits Elizabeth receives over the week is ( on Tuesday, on Thursday, and on Saturday, and on Sunday).
Q: What is the total amount of debits Elizabeth makes over the week?
A: The total amount of debits Elizabeth makes over the week is ( on Wednesday, on Friday, and on Sunday, and on Monday).
Q: What is Elizabeth's final account balance on Sunday?
A: Elizabeth's final account balance on Sunday is .
Q: What is the highest account balance Elizabeth reaches over the week?
A: The highest account balance Elizabeth reaches over the week is on Saturday.
Q: What is the lowest account balance Elizabeth reaches over the week?
A: The lowest account balance Elizabeth reaches over the week is on Sunday.
Q: How many transactions does Elizabeth make over the week?
A: Elizabeth makes a total of 7 transactions over the week (1 deposit and 6 purchases).
Q: What is the average account balance Elizabeth has over the week?
A: The average account balance Elizabeth has over the week is .
Conclusion
In this article, we answered some frequently asked questions about Elizabeth's account balance. We hope this Q&A article helps to clarify any confusion and provides a better understanding of Elizabeth's account balance.
Mathematical Concepts
This article demonstrates the following mathematical concepts:
- Addition: We added credits to the previous balance to calculate the new balance.
- Subtraction: We subtracted debits from the previous balance to calculate the new balance.
- Basic arithmetic operations: We used basic arithmetic operations such as addition and subtraction to calculate the new balance.
- Average: We calculated the average account balance Elizabeth has over the week.
Real-World Applications
This article has real-world applications in the following areas:
- Accounting: This article demonstrates how to calculate and analyze changes in an account balance over a period of time.
- Finance: This article shows how to use mathematical concepts to calculate and analyze financial transactions.
- Business: This article demonstrates how to use mathematical concepts to make informed business decisions.
Future Directions
In the future, we can explore more complex mathematical concepts and their applications in real-world scenarios. Some possible future directions include:
- Compound interest: We can explore how compound interest affects account balances over time.
- Inflation: We can analyze how inflation affects account balances over time.
- Investments: We can explore how investments affect account balances over time.
By exploring these mathematical concepts and their applications, we can gain a deeper understanding of the world around us and make more informed decisions in our personal and professional lives.