To calculate the current balance, follow these steps:
1. Initial Balance: Start with the provided initial balance.
- Initial Balance: \[tex]$82.92
2. List the Debits: Sum all the debits (amounts withdrawn).
- Monthly Fee: \$[/tex]8.00
- Phone Bill: \[tex]$78.24
- ATM: \$[/tex]40.00
- Tennis Lessons: \[tex]$56.50
- Total Debits: \(8.00 + 78.24 + 40.00 + 56.50 = \$[/tex]182.74\)
3. List the Deposits: Sum all the deposits (amounts deposited).
- Paycheck: \[tex]$125.00
- Total Deposits: \$[/tex]125.00
4. Calculate the Current Balance:
- Subtract the total debits from the initial balance.
- Add the total deposits to the result from the previous step.
[tex]\[
\text{Current Balance} = 82.92 - 182.74 + 125.00
\][/tex]
- Perform the calculation step by step:
- [tex]\(82.92 - 182.74 = -99.82\)[/tex]
- [tex]\(-99.82 + 125.00 = 25.18\)[/tex]
Thus, the current balance is \$25.18.
