Checking and Savings Review

Basic Math

100

Give me an example of a number with an exponent.

Up to the teacher

200

In 3⁶⁷, how many times do you multiply the number 3 by itself?

67 times

300

4^{x + 2} = 4¹²

What is x?

x=10

400

Solve for x.

5^x+3=5⁵

x=2

Checking Account

100

This is the account you want you savings to go to.  True or false

False,  into the savings account

200

What kind of account do you have when you are married?

Joint account

300

What kind of slip do you fill out when depositing money?

Deposit slip

400

River deposited two checks each for $100 and cash in the amount of $25.   What type of transaction is this?  Last, he wants $50 in cash back.  What type of transaction is this?

Deposit

Withdrawal

Savings Account

100

A savings account is designed to lend you money for things you want and pay it back later.  True or false

False

200

Name a type of bank transaction.

Teacher approves it

300

What does it mean when the bank gives you interest?

Teacher approves this

400

When putting money into your savings account, what is that initial money called?

principal

Debit Cards

100

Your name, card number, expiration date, and your birthday appears on the front of a debit card.  True or false.

False, not the birthday card

200

Anytime you buy something with your debit card, the money comes out of your checking account.  True or False

 True

300

What is compound interest?

Teacher approves this.

400

What is the simple interest rate equation?

I=prt

Credit Cards

100

What is a credit Card?

Teacher approves this

200

Credit cards have a limit on the money you can borrow. True or false

true

300

What is simple interest?

Teacher approves this.

400

In simple interest, what does the R and T stand for?

R=rate (% form)  T=time