Checking Accounts
FALSE
1: 00
2: 0000
3: 000000
Adding 2 zeros each time
y = 0.5x - 5
What is the y- intercept?
-5
What is a direct deposit?
Your paycheck funds are deposited electronically straight into your account
What is positive correlation?
data appears closely grouped around a line that trends up from left to right
Deposit money in an ATM, visit a bank branch, transfer funds electronically, direct deposit from job, deposit a check
Slope: 3
Y-intercept: 5
y = 3x +5
What is "slope"?
Rise over run, change in y over change x, rate of change
What is a convenience of online banking?
Set up alerts, transfer money, monitor accounts
What is negative correlation?
data appears to be closely grouped around a line that trends down from left to right
List at least 3 ways to get money OUT of your checking account
Checks, debit cards, ATM withdrawal, Visit a branch, direct transfer from another account
Write the equation:
x values: 0, 1, 2, 3, 4
y values: 2, 5, 8, 11, 14
y = 3x + 2
Graph y = x - 3
y-intercept at -3, slope of 1. students should have (0, -3), ( 1, -2) ...
What are P2P payments? What are some examples?
Peer-to-peer
Examples: Apple Pay, PayPal, Venmo
What does it mean when data has no correlation?
the data has no useful linear relationship
What fees are the largest and how much are they?
Overdraft/non-sufficient funds fee ~ $35
Jackson has $900 in his account. If his balance is below $1450, he is charged a $3.50 maintenance fee each month. Write an equation that represents his balance, y, after each month x (no other deposits or withdrawals)
y = - 3.50x + 900
What is the difference between a positive slope and a negative slope?
Positive slope - line goes up and to the right
Negative slope - line goes down and to the right
Where is P2P cash typically stored?
In the recipients digital wallet
ex - apple cash in digital wallet
y = 4.55x + 2.55 models the percentage (y) of individuals that used mobile banking as their primary banking method since 2013(x).
Estimate the percentage of individuals that will use mobile banking as their primary baking method in 2025.
y = 4.55 (12) +2.55
= 57.15%
What is misleading about the term "overdraft protection"?
It implies that you won't be charged a fee for the overdraft, but you still may be charged a fee (depending on bank)
Coinstar machines charge an average fee of 11.9% of your coin's value. Write an equation that models the total fee you pay, y, based on the value of your coins, x, if you use a coinstar machine.
y = 0.119x
A larger slope means that the line is...
steeper!
What TWO pieces of information do you need to set up direct deposit?
Account number and routing number
Write a linear regression model with the given outputs from desmos:
r^2 = 0.9804
r = 0.9901
m = 2
b = 4.2
y = 2x + 4.2