5
QuizMultiple Choice

Using a Debit Card

Question 5 • (Kapuschinsky)WCA 3424 Consumer Applications 1st nine weeks 26-27

Frank has $66.50 in his account on Sunday. Over the next week, he makes the following changes to his balance via deposits and purchases:DayDebit ($)Credit ($)Monday60.3380.75Tuesday54.45---Wednesday49.2015.00Thursday35.40---Friday16.8575.00Saturday80.56---On what day does Frank first get charged an overdraft fee?

Answer
A
Wednesday
B
Thursday
C
Friday
D
Saturday

Explanation

Start with $66.50. After Monday’s $60.33 debit and $80.75 credit, Frank has $86.92; after Tuesday’s $54.45 debit, he has $32.47. On Wednesday, the $49.20 debit takes his balance below zero, even after the $15.00 credit: $32.47 − $49.20 + $15.00 = −$1.73. So the first overdraft occurs on Wednesday, choice a.

AI-written and checked against the verified answer.

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