Darla had $750 in her checking account when her debit card was stolen.Assuming the thief made $525 in purchases with the card,how much could she save by reporting the stolen ATM card immediately rather than waiting more than three months before reporting the theft?
A)$50
B)$525
C)$475
D)$500

Question

Quizplus · Accepted Answer

If Darla immediately reports the theft of her debit card, she can prevent any more unauthorized purchases from being made. However, if she waits for more than three months before reporting the theft, the bank may not be obligated to reimburse her for the stolen funds because she failed to report the theft in a timely manner.

Therefore, the amount Darla could save by reporting immediately is equal to the amount of unauthorized purchases made by the thief, which is $525. Thus, the correct choice is C ($475, which is the difference between $750 and $525).

Darla Had $750 in Her Checking Account When Her Debit