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Fin Alg Lesson 3.1 42716.notebook
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April 27, 2016
3.1 Checking Accounts
Read lesson 3.1 on pages 116-117
Understand:
• Check/Debit vs. Deposit• Various types of checking accounts• Maintenance Fees• Interest Rewards• Single vs. Joint Accounts
Fin Alg Lesson 3.1 42716.notebook
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April 27, 2016
1. Mitchell has a balance of $1200 in his First State Bank checking account. He deposits a $387.89 paycheck, a $437.12 dividend check, and a personal check for $250 into his account. He wants to receive $400 in cash. How much will he have in his account after the transaction?
2. Meg has a total of d dollars in her checking account. She makes a cash deposit of c dollars and a deposit of three checks worth s dollars. She would like e dollars in cash from this transaction. Express her new checking account balance after the transaction as an algebraic expression.
3. John and Jan have a joint checking account. Their balance at the beginning of October was $6,238.67. During the month they made deposits totaling d dollars, wrote checks totaling $1,459.98, paid a maintenance fee of z dollars, and earned b dollars in interest on the account. Write an algebraic expression that represents the balance at the end of the month.
4. Dean has a checking account at City Center Bank. During the month of April, he made deposits totaling $2,458.52 and wrote checks totaling $789.23. He paid a maintenance fee of $25 and earned $3.24 in interest. His balance at the end of the month was $4,492.76. What was the balance at the beginning of April?
Fin Alg Lesson 3.1 42716.notebook
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April 27, 2016
5. Bellrose Bank charges a monthly maintenance fee of $17 and a check writing fee of $.05 per check. Last year, Patricia wrote 445 checks from her account at Bellrose. What was the total of all the fees she paid on that account last year?
Check Registers: A record of all transactions in a checking account.
read example 2 on pg 119
Fin Alg Lesson 3.1 42716.notebook
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April 27, 2016
Fin Alg Lesson 3.1 42716.notebook
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April 27, 2016
HW 3.1 pg 120-122 #3 - 7, 9, 12, 13, 16
* no printing of a check on #12, just find the total amount
