The opening balance is the amount of money available in the bank account at the beginning of the statement period, which is R9 872.50 on 01/02/2022.

1.1.1 The opening balance is the amount of money available in the bank account at the beginning of the statement period, which is R9 872.50 on 01/02/2022. 1.1.2 Step 1: Identify the total amount debited for the cellphone account. From the statement, on 02/02/2022, "Debit order- cellphone account" is R289.32. Step 2: Subtract the monthly contract fee from the total debit. Amount spent on calls = Total cellphone debit - Monthly contract fee Amount spent on calls = R 289.32 - R 85.00 Amount spent on calls = R 204.32 Solly spent R 204.32 on calls in February. 1.1.3 Step 1: Identify all ATM withdrawal amounts from the statement. On 06/02/2022, ATM Withdrawal = R1 000.00 On 10/02/2022, ATM Withdrawal = R880.00 Step 2: Sum the ATM withdrawal amounts. Total ATM withdrawals = R 1000.00 + R 880.00 Total ATM withdrawals = R 1880.00 The total amount Solly withdrew through ATM withdrawals is R 1880.00. 1.1.4 Step 1: Locate the "Debit order - Car insurance" transaction. On 03/02/2022, "Debit order - Car insurance" is R1 000.00. Solly paid R 1000.00 for Car Insurance. 1.1.5 Step 1: Find the closing balance on the 21st of February. On 21/02/2022, after the "Cash deposit at Branch" and its "Transaction Fee", the closing balance is R2 227.96. The closing balance on the 21st of February is R 2227.96. 1.1.6 Step 1: List all bank charges (Transaction Fees and Monthly account fee) from the statement. • 01/02/2022: Transaction Fee = R1.50 • 02/02/2022: Transaction Fee = R6.00 • 02/02/2022: Transaction Fee = R6.00 • 03/02/2022: Transaction Fee = R6.00 • 06/02/2022: Transaction Fee = R6.00 • 10/02/2022: Transaction Fee = R6.00 • 21/02/2022: Transaction Fee = R5.59 • 28/02/2022: Monthly account fee = R8.20 Step 2: Sum all the bank charges. Total bank charges = 1.50 + 6.00 + 6.00 + 6.00 + 6.00 + 6.00 + 5.59 + 8.20 Total bank charges = R 47.29 Solly's total bank charges for the month are R 47.29. 1.2.1 Step 1: Identify the fee structure for "Cash deposit (At the branch)" from Table 1. Fee = R2.50 + 0.95% of value. The deposit value is R325.00. Step 2: Calculate the fee. Fee = R 2.50 + (0.0095 × R 325.00) Fee = R 2.50 + R 3.0875 Fee = R 5.5875 Rounding to two decimal places, the fee is R 5.59. The statement shows R5.59, which matches the calculation. 1.2.2 Step 1: Calculate the fee if the money was deposited at the ATM. From Table 1, "Cash deposit (At ATM)" fee = R0.90 per R100 (or part thereof). The deposit amount is R325.00. Number of R100 parts = (325)/(100) = 3.25 = 4 parts. ATM deposit fee = 4 × R 0.90 ATM deposit fee = R 3.60 Step 2: Calculate the saving. The fee at the branch was R5.59 (from 1.2.1). Saving = Branch deposit fee - ATM deposit fee Saving = R 5.59 - R 3.60 Saving = R 1.99 Solly would save R 1.99 on transaction fees. Send me the next one 📸