You deposit a $100 check from a friend in your account. A couple of days later, you buy $45.20 worth of groceries and pay with a

Question

28 days ago

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You deposit a $100 check from a friend in your account. A couple of days later, you buy $45.20 worth of groceries and pay with a

check. Two days later you receive a note from the bank stating that your friend’s check bounced and you owe the bank a $25 fee. Since your friend's check bounced, your account balance was actually $100 less than you thought it was, and the check you wrote to the grocery store bounced. Guess what? The bank debited your account another $25 for bouncing the check. It gets worse. The next day you receive a letter from the grocery store that you owe them $25 in fees for the bad check and that you have to pay the original $45.20 with a money order that will cost you $1. Calculate how much you actually spent for your groceries.

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1 answer:

Nady [2.9K] · Answer 1 · 2026-03-08T04:43:55+03:00

Answer:

The total comes to $121.2.

Explanation:

You went grocery shopping and paid with a check.

Cost of groceries: $45.20.

Your check bounced, resulting in a $25 fee from the bank due to insufficient funds in your account at the time of payment for groceries.

The bank also charged your account an additional $25 for the bounced check.

The grocery store notified you that you owed them a $25 fee because of the bounced check.

You will need to pay $45.20 again.

Money order cost: $1.

Therefore, your total grocery expenditure equals:

$45.20 (actual grocery cost) + $25 (owed to the bank for your friend's bounced check) + $25 (bank fee for bounced check) + $25 (fee charged by the grocery store for the bounced check) + $1 (money order)

= $121.20.

Thus, your actual outlay for groceries amounts to $121.20.