Question

Ramon's checking account requires that he maintain a minimum balance of $2000 to avoid a monthly service fee, and his balance at the beginning of this month was $2183.62. If Ramon's transactions so far this month have been a direct deposit of $562.56 on the 3rd of the month, a check written by Ramon on the 6th of the month to his landlord for $750 that cleared the next day, and a cash deposit of $100 on the 9th of the month, has Ramon been able to avoid the monthly service fee?

Answer 1

You would start with $2,183.62.
Then you would add $562.56, check the subtotal to make sure it's more than $2,000.
Then you would subtract $750, check the subtotal to make sure it's more than $2,000.
Then you would add $100, check the subtotal to make sure it's more than $2,000.
As long as the subtotal was $2,000 or more each time, Ramon would have avoided the monthly service fee. If it fell below $2,000 then he would not have.