date transaction type amount ($) 5/25 purchase 66 5/18 purchase 90 5/30 purchase 188 5/30 deposit 151 5/24…
date transaction type amount ($) 5/25 purchase 66 5/18 purchase 90 5/30 purchase 188 5/30 deposit 151 5/24 purchase 152 5/22 purchase 104 5/8 deposit 175 5/3 purchase 82 5/6 purchase assuming that this is a complete, if scrambled, record of ronalds may spending and that any overdraft fees incurred do not affect the running total, how many times did ronald overdraw his account in may? a. ronald never over drew his account. b. ronald only over drew his account once. c. ronald over drew his account twice. d. ronald over drew his account more than twice.
Answer
Explanation:
Step1: Initialize balance
Let the initial balance be $0$.
Step2: Process transactions one - by - one
For 5/8 deposit of $175$, balance = $0 + 175=175$. For 5/3 purchase of $82$, balance = $175−82 = 93$. For 5/6 purchase (amount not given, assume $0$ for now), balance = $93−0 = 93$. For 5/22 purchase of $104$, balance = $93−104=- 11$ (first overdraft). For 5/24 purchase of $152$, balance = $-11−152=-163$. For 5/25 purchase of $90$, balance = $-163−90=-253$. For 5/18 purchase of $188$, balance = $-253−188=-441$. For 5/30 deposit of $151$, balance = $-441 + 151=-290$. For 5/30 purchase of $151$, balance = $-290−151=-441$.
Answer:
C. Ronald over drew his account more than twice.