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Math

QuestionA business has \$10,000 and takes a \$30,000 loan. What is the new account balance after the loan?

Studdy Solution

STEP 1

Assumptions1. The initial bank account balance is 10,000.Theloanamountis10,000. The loan amount is 30,0003. The loan amount is deposited directly into the bank account

STEP 2

We need to find the new account balance after the loan is deposited. We can do this by adding the initial bank account balance to the loan amount.
New account balance=Initial bank account balance+Loan amountNew\, account\, balance = Initial\, bank\, account\, balance + Loan\, amount

STEP 3

Now, plug in the given values for the initial bank account balance and the loan amount to calculate the new account balance.
New account balance=$10,000+$30,000New\, account\, balance = \$10,000 + \$30,000

STEP 4

Calculate the new account balance.
New account balance=$10,000+$30,000=$40,000New\, account\, balance = \$10,000 + \$30,000 = \$40,000The new account balance after the loan is deposited is $40,000.

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