financial literacy quest

User Generated



Question Description

After noticing the difference between the two balances, you are concerned because you have a college loan payment of $1225.00 that is due on Friday, and you won’t be paid again until Monday. You expected to have at least $1225.00 in your checking account to cover your loan payment, but the $1205.00 balance on your statement suggests you don’t have enough money. What should you do?

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Explanation & Answer

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Call the institution and let them know the situation. Ask them if it will be fine to send the $1205 that you have in your checking account to cover majority of the total, assure them you will pay the remaining $20 on Monday. 

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RqhpngvbaJevgre (1105)
Duke University

I was struggling with this subject, and this helped me a ton!