Simple Interest
$1,050 at 4.6% for 2 years
$96.60
Provide an example of a Checking Account transaction
Check, Deposit, Debit Card, Withdrawal, Service Fee, Overdraft Fee
Opening balance: $1.234.98
Deposit (+) $34.00
Withdrawal (-) $200.00
$1,000.98
3.4%, 3.039%, 3 3/16% , 3.499%, 3 1/2%
3.039%, 3 3/16% , 3.4%,3.499%, 3 1/2%
An account in which the bank pays interest for the use of the money deposited into the account
Savings account
$250 at 2.85% for 3 years
21.38
Where should you record all of your checking account transactions?
Check Register
Raoul's savings account must have at least $500 or he is charged a $4 fee. His balance was $716.23 when he withdrew $225, what was his balance?
$487.23
Total Amount Cashed =$245
No. of 50 dollar bills=2
Number of 20 dollar bills=6
How many 5 dollar bills was he given?
5
Plans that pay a check even though the are not enough funds in the account
overdraft protection
$500 at 3.75% for 1 year
18.75
What is a deposit slip?
Slip used to record and fill in all of our deposits into our bank account.
Beginning Balance $948.30
Conns Telephone Co. $76.80
Deposit $600.00
Mary Lewis $50.00
Deposit $250.00
$1,671.50
Total amount cashed=$113
No. of 20 collar bills=4
Number of 1 dollare bills=3
How many 10 dollar billers were given out?
3
ATM
Automated Teller Machine
$3,000 at 5.5% for 2 years
$330
Reasons for differences in "Check Register" and "Bank Statement"? Provide at least one.
Outstanding Checks - can take 3-7 days for checks to clear your account
Deposits - can take 3-7 days for the check you deposited to be cleared
Fees - Service charges and ATM fees are not always recorded in your check register until you see your account statement.
Jill's checking account charges $12.50 a month and 20 cents per check; what are her total fees foe the year, if she wrote 240 checks?
$390
Find the missing terms indicated by variables in the arithmetic sequence shown.
a, 30, b, 42, c, d, e
24, 36, 48, 54, 60
PIN
Personal Identification Code
What is the formula for simple interest?
I=PRT
What period of time does a bank statement cover?
One Month
Balance 237.47
Check 115 $18
Paycheck $162.75
ATM $15.00 (There is a $2.25 fee)
$364.99
The ending balance in TJ's account is $4,200. the starting balance was $5,195.65. His paycheck of $873.22 was added to the account. A rebate check of $6.05 was added. A bank fee of $15.00 was subtracted How mush were the checks for that TJ wrote?
$1,823.92
The amount of money in a checking account at the beginning of a statement period.
Starting Balance