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Ming made a car insurance payment of [tex]$122.50. He'll use the check register to record his transaction. What will be his new balance?

| Check Number | Date | Description of Transaction | (-) Debit | $[/tex]\checkmark[tex]$ | (+) Deposits | Balance |
|---------------|---------|----------------------------|-----------|--------------|--------------|---------|
| | | Beginning Balance | | | | 962.25 |
| 712 | 3/19 | Magazine Subscription | 17.00 | | | 945.25 |
| 713 | 3/22 | Groceries | 143.15 | | | 802.10 |
| 714 | 3/25 | Car Insurance | 122.50 | | | ______ |

New Balance: $[/tex] ______



Answer :

GinnyAnswer
To determine Ming's new balance after making a car insurance payment of [tex]$122.50, we will update the check register step by step. Here is the detailed solution: 1. Begin with the initial balance: \[ \text{Beginning Balance} = \$[/tex]962.25
\]

2. Record the first transaction:
- Description: Magazine Subscription
- Debit: \[tex]$17.00 \[ \text{New Balance} = 962.25 - 17.00 = 945.25 \] 3. Record the second transaction: - Description: Groceries - Debit: \$[/tex]143.15

[tex]\[ \text{New Balance} = 945.25 - 143.15 = 802.10 \][/tex]

4. Record the third transaction:
- Description: Car Insurance Payment
- Debit: \$122.50

[tex]\[ \text{New Balance} = 802.10 - 122.50 = 679.60 \][/tex]

Therefore, after accounting for all the transactions, Ming's new balance is:
[tex]\[ \boxed{679.60} \][/tex]

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