9 in the equation y=5x+9
What is the y-intercept?
When you put money into your account it is called a deposit. This is what it is called when you take money out of your account.
What is a withdrawal?
A fee that occurs when you exceed the available balance of your checking account.
What is an overdraft fee?
Having your paycheck deposited into your account electronically.
What is direct deposit?
If you are the type of person who forgets things you might want to set this up so you always pay your bills on time.
What is online bill pay?
The equation the represents the growth in this diagram.
What is y=3x-2
Easy access to your money, tracking finances, direct deposit, and keeping your money safe are all good reasons to do this.
What is open a checking account?
The average cost of an overdraft fee on a checking account.
What is $35
This method might cost you an extra fee when taking out money with your debit card if you are at a bank that isn't your branch.
Apps like Venmo, Apple Pay, Samsung Pay, Google Pay are all useful for this.
What are person-to-person payments?
Alma started working a job making $16.50 an hour. She works 20 hours a week and gets payed weekly. After week 1 she had $400 in her bank account. The equation represents the balance in her bank account after x numbers of weeks.
What is y=330x+70
This is where you look to see all of your fees and transactions for a specific period of time
What is a bank statement?
If you will not have much money in your checking account you might want to select a bank that does not charge this fee
What is a monthly maintenance fee?
If you happen to buy something here with your debit card you might be asked if you want to withdrawal cash.
What is a supermarket?
When setting up person to person payments you should always make sure to do this.
A model that fits a linear equation to data relating two variable. It determines the best fit and if there is a correlation.
What is a linear regression model?
This organization insures the money you deposit in certain bank accounts, so you will not lose your money if the bank fails.
What is the FDIC?
This alert would help you avoid overdrafting your account.
What is a low balance alert?
Writing checks, debit cards, ATMs, visiting a local branch, or transferring money all allow you to do this.
What is getting money out of your checking account?
This is the most common activity people use mobile banking for
What is inquiring about their balance?
Create a scenario with two variables that would have negative correlation.
Answers will vary
The interest rate in this type of account is typically lower (or nonexistent) compared to savings accounts or CD's.
What is a checking account?
Many people think that this will protect them from a fee, but what it actually does is allow your purchase to be approved if you have insufficient funds in your checking account and you will be charged a fee
What is overdraft protection?
An alternative option to deposit a check that typically has higher fees associated with it
What is check cashing?
Name a benefit of using online banking.
Answers will vary