Question

You move 18% of your online checking account balance of $2,525 to your savings account. How much of your checking account did you transfer?

Answer 1

Answer:

$454.50

Explanation:

18% X $2525 = $454.5

Answer 2

The amount of $454.5 is transferred to a savings account.

What is a checking account and saving account?

A checking account is used for accessing money on a daily basis which has less interest rate or no interest, at all while a saving account is used to save money in the bank, it has more interest rate.

Given:

Checking account balance=$2,525

Moving 18% of a checking account to a saving account

=Checking balance X 18%

=$2,525 X 18%

=$454.5

Therefore, it can be said that $454.5 is transferred to a savings account.

Learn about checking account and saving accounts here:

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