Question

Albert has a bank balance of -65 dollars. George has a balance of -44 dollars. Zoe's balance is -7 dollars; Pat's balance is -82 dollars. Who owes more money to the bank? A. Albert B. George C. Zoe D. Pat

Short answer

D. Pat

Step-by-step solution

- Understand negative balances

A negative bank balance means the person owes money to the bank. The more negative it is, the more money they owe.

- Compare the balances

Compare the given balances: -65 for Albert, -44 for George, -7 for Zoe, and -82 for Pat. Identify which balance is the most negative.

- Determine the largest negative number

Among -65, -44, -7, and -82, the most negative number is -82. Therefore, the person with this balance owes the most money to the bank.

- Identify the individual

Check the individual associated with the balance of -82. According to the given information, Pat owes -82 dollars.

Conclusion

The person who owes the most money to the bank is Pat.

Key concepts

Negative Numbers

Negative numbers represent values less than zero. In the context of banking, a negative balance indicates that you owe money. If your balance is negative, you've spent more than you have deposited.
Visualize it as being behind or in debt. The more negative the number, the more you owe.
Understanding negative numbers is crucial because they tell us about debt and credit. If two people have negative balances, the one with the larger absolute value (ignore the minus sign) owes more.
For instance, between -20 and -50, -50 is more negative. So, owing -50 dollars means you owe more than owing -20 dollars.

Banking Basics

In banking, your account balance reflects how much money you have. Positive balances mean you have money saved or deposited. Negative balances mean you owe the bank money. Here are some basic banking terms to understand:

• Deposit: Adding money to your account.
• Withdrawal: Taking money out of your account.
• Balance: The amount of money in your account at a given time.
• Overdraft: When your balance goes below zero, indicating a negative balance.

Negative balances usually occur due to overdrafts. If you spend more money than you have in your account, you might incur an overdraft fee.
Keeping track of your balance helps you avoid falling into debt. Always monitor your bank statements and be aware of how much you can spend.

Comparing Values

When comparing negative balances, you are looking for the most negative number to understand who owes the most. Here's a simple way to do it:
1. List all negative balances.
2. Ignore the minus sign and compare the absolute values.
3. The highest absolute value corresponds to the most negative balance.
For example, let's compare Albert with -65, George with -44, Zoe with -7, and Pat with -82.
Among these, -82 is the most negative because 82 is the highest absolute value when ignoring the minus sign.
So Pat, with a balance of -82, owes the most money.
This approach helps in various real-life scenarios, not just banking. By understanding how to compare values, you can make better financial decisions and manage debts more effectively.