A student's bank statement reflects $1,600 at month end. The student's checkbook, before reconciling, reflects $1,500. The student has $5 of interest on the bank statement which has not been posted to his/her checkbook, deposits in transit of $100, and outstanding checks of $195. What is the reconciled bank balance?

$1,400

$1,520

$1,510

$1,505

AND

Assume the following exchange rates are "market" rates today: 1 Euro = 1.50 US dollars OR 1 US dollar = .6667 Euros You are planning to exchange $5,000 US dollars for Euros. Which of the following bank deals will give you the most Euros?

Hint: See the excel file in the Modules Chapter 5 for an illustration of how to solve this problem.

1 US dollar = .6667 Euros; Exchange fee = 4%

1 US dollar = .6451 Euros; No exchange fee

1 US dollar = .625 Euros; Exchange fee = 3%

1 US dollar = .7142 Euros; Exchange fee = 2%

1 US dollar = .6896 Euros; Exchange fee = 1%