Plans that fund a check you write, even though there are not enough funds in the account.
What is Overdraft Protection?
100
Deposits that have been made but do not appear on the statement.
What are Outstanding Deposits?
100
The main difference between a checking account and a savings account.
A Savings Account earns interest.
100
The reason we have 2 different "future value" compound interest formulas.
One is for a principal value that is added to an account the left alone. The second is for a principal value that is added to an account and then increased with periodic deposits.
100
The difference between "present value" and "future value" interest calculations.
Future Value calculations tell you what your money will be worth later.
Present Value calculations tell you how much money you need to invest now to reach a goal later.
200
The record of all transactions in your checking account, including checks written, deposits made, fees paid, ATM withdrawals, and so on.
What is a Check Register?
200
Checks that have been written but do not appear on the statement.
What are Outstanding Checks?
200
The formula used to calculate SIMPLE interest, and what the variables stand for.
What is Interest = (principal)(rate)(time)
200
The ending balance in a savings account after 5 years that starts with $1100 and earns 3% interest, compounded quarterly.
What is $1277.30?
200
The reason we have two "present value" interest calculation formulas.
One is for a single deposit, the other allows for periodic deposits.
300
The process by which a check is paid by the bank.
What is Check Clearing?
300
The ending balance of this bank statement:
Beginning balance: 754.33
1/08 W/D 121.28
1/11 W/D 140.00
1/15 Deposit 998.15
1/24 W/D 107.78
What is $1383.42?
300
The amount of simple interest Jo would earn on $5500 if he invested it for 3 years at an interest rate of 1.3%.
What is $214.50.
300
The amount of interest earned in 4 years on $1000 in an account that pays 1.5% interested, compounded monthly.
What is $61.80?
300
Joe wants to $5000 to put as a down payment on a car in 2 years. If his bank pays 2.1% interest, compounded monthly, how much money must he deposit now to reach his goal?
What is $4794.52?
400
The amount Gary has in his checking account at the end of October if his beginning balance was $9145.87 before he made deposits totaling $2783.71, wrote checks totaling $4871.90, paid a maintenance fee of $12 and earned $11.15 in interest on the account.
What is $7056.83?
400
The actual balance in your account after you realize you entered an ATM withdrawal of $20 as a deposit instead, not the $543.25 your check register shows now.
What is $503.25?
400
Sam's savings account has a minimum balance requirement of $450. If his balance goes below that amount, the bank charges a $6 fee. His balance was $600 when he withdrew $175. What is his new balance?
What is $419.
400
The difference between APR and APY.
The APY is the % of simple interest you would need to earn the same amount of money when the interest is compounded. APY is always higher.
400
Rita just graduated from college. She wants $50,000 in her savings account after 10 years. How much she deposit in that account now at a 2.9% interest rate, compounded daily, in order to meet that goal?
What is $37413.61.
500
The amount you pay for a set of tires originally priced at $500, discounted 15%, in Idaho with sales tax of 6%.
What is $450.50?
500
The formula you would use to calculate the total monthly bank charges if you are charged $0.15 for each check written and a monthly service charge of $9.75.
What is y = 0.15x + 9.75?
500
How much money is in Jenny's account if she invests $3000 for 5 years at an interest rate of 1.8%?
What is $3270?
500
Shawn deposits $10,500 in a two year CD at 3.1% interest, compounded daily. What is his APY to the nearest tenth of a percent?
What is 3.2%?
500
Albert wants to buy a new car in 3 years. He estimates the total cost to be $25,000. How much must he deposit monthly into an account that pays 1.9% interest, compounded monthly, in order to have enough money?