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If have paid a credit card balance of 1200 dollars and no longer use the card do you have to cancel it or let it go?
That's completely up to the person. However closing an account will have a small effect on your CR.
Franklin just deposited 364 dollars into his checking account If Franklin now has a total of 500 dollars in his account how much did he have originally?
Newly deposited amount: 364 dollars Current Bank balance: 500 dollars Previous balance:? Previous balance = current balance - newly deposited amount = 500 - 364 = 136 Franklin had 136 dollars in his account before he made the 364 dollar deposit
Why does an account balance less than -40 dollars represents a debt greater than 40 dollars?
An account balance less than -40 dollars represents a debt greater than 40 dollars because negative numbers represent amounts owed or deficits. In this case, a balance of -40 dollars indicates that the account holder owes 40 dollars to the institution. The negative sign denotes that the account is in debt, hence the debt being greater than 40 dollars.
Why the ballance of the assets is always on debit side in T account?
Assets maintain a Debit balance and therefore any asset with a positive balance will be listed on the "debit" side of the account. The credit side of the T account for assets is used only to DECREASE that asset. For example Cash is an asset account and it's balance is listed on the Debit side, now your company spends "x" amount of dollars, that entry will be listed on the Credit side to decrease the cash account. If at anytime your Debit side of the asset is less than your Credit side it means that you have a LOSS. For example, you have $1,000 in your cash account and you record $1500 (credit) to the account. Your account will be listed as "OVERDRAWN" and will have a Credit Balance of $500, this of course is not acceptable. A company can never have a higher Credit balance than a Debit balance in their assets.
If your balance was 100 dollars and your credit card company asked that you pay 5 percent of your balance how much would you need to pay?
Five percent of one hundred dollars is five dollars.
What is the procedure to transfer one's checking account balance to their savings account for HSBC bank?
The procedure to transfer ones checking account balance is the same at every bank. It is called a balance transfer. HSBC allows only 350,000 dollars to be transferred per day.
Does Chase bank have free checking accounts?
Chase Bank does have free checking as long as you have a minimum balance of 100 dollars. there are also interest bearing checking accounts were if you maintain a balance of at least 1500 dollars your account will receive interest on your checking account.
Is there usually a minimum balance requirement for free checking deals?
If you are getting a free checking account. The balance reuqirement should be zero dollars and should have keep the account open with a one penny.
You deposit 700 in an account that pays 8 percent interest compounded yearlyfind the balance after 13 years?
You will have 1903.737 dollars in your account at the end of 13 years. The year wise end balance will be:756816.48881.798952.3421028.531110.8121199.6771295.6511399.3031511.2471632.1471762.7191903.737This is under the assumption that you don't deposit any fresh funds into your account and initial 700 dollars + the accumulated interest is all that is available in the account.
Can you take two dollars out your checking account if that's all you have in there?
Yes, but the bank may close your account if it has no balance. You should check with your bank for their specific policies.
Why does an account balance less than -40 dollars represent a debt greater than 40 dollars?
Unless they are reflected in the negative balance already, there are overdraft charges that you also owe. If the -$40.00 reflects more than one transaction that caused the negative balance, each transaction will have an overdraft charge.
What can happen to a person for overdrafting a new bank account 3000 dollars?
Overdrafting a bank account by $3,000 can lead to several consequences. The bank may charge significant overdraft fees for each transaction that exceeds the available balance, which can quickly add up. Additionally, the account may be subjected to negative marks on the individual's credit report if the overdraft remains unpaid for an extended period. This situation can also lead to the bank closing the account and potential legal actions if the debt isn't settled.
