What it is:
An account balance is a statement of how muchis in an account.
How it works/Example:
For example, let's say John Doe deposits $20. His new account balance is $100 - $45 + $20 = $75.$100 into a new bank account. He withdraws $45 the next day. Then he
Why it matters:
An account balance can also be the amount owed to a creditor. For example, if John Doe gets a new credit card, buys patio furniture for $1,000, and charges his $150 dinner out, his account balance on his credit card is $1,150 (and he has only $75 in his bank account, so he might have a big problem).