Personal Finance

Front

Erika and Gina are reviewing their check register. What was the balance at the end of 12/7?

Back

$869.20

Answer explanation

The account balance at the end of the day on 12/7 was $869.20, which reflects the correct total after all transactions were accounted for, making it the accurate choice among the options provided.

Front

How much did Erika spend on the Christmas present?

Back

$96.50

Answer explanation

Jamal spent $96.50 on the Christmas present, which is the correct choice among the options provided. The other amounts, $95.60 and $100.00, do not match the actual spending.

Front

Is Gina's account balance of $2,220.70 on 12/15 correct?

Back

no

Answer explanation

Jamal's account balance of $2,220.70 is incorrect. The answer is 'no' because there may be discrepancies in transactions or calculations that need to be verified.

Front

How much was Erika's check for the doctor’s visit?

Back

$60

Answer explanation

Jamal wrote a check for $60 for the doctor’s visit, which is the correct amount among the options provided. The other amounts, $600 and $50, are incorrect.

Front

Gina puts money into her bank account. This money is called ______.

Back

deposit

Answer explanation

The amount of money put into a bank account is called a deposit. A refund is money returned, a withdrawal is money taken out, and a fee is a charge, none of which fit the definition of money added to an account.

Front

Erika needs to pay for her groceries, so she uses money from her bank account. This is called a ____.

Back

Withdrawal

Answer explanation

A withdrawal is a transaction where money is taken out of a bank account to pay for goods or services. This directly matches the definition provided in the question.

Front

Moving money from one account to another is called _____?

Back

Transfer

Answer explanation

A transaction that involves moving money from one account to another is called a 'Transfer'. This distinguishes it from a 'Withdrawal' (taking money out), 'Deposit' (putting money in), or 'Check Register' (a record of transactions).

Front

When Gina withdraws money from her account, she _______.

Back

subtracts from

Answer explanation

When you withdraw from your account, you are taking money out, which means you are reducing the balance. Therefore, you subtract from your account.

Front

Gina wants to add money to her bank account. This action is called a ______.

Back

deposit

Answer explanation

When you add money to an account, it is called a deposit. A withdrawal is when you take money out, and a transfer involves moving money between accounts. Therefore, the correct answer is deposit.

Front

What information will Erika and Gina find on their credit reports?

Back

Late payment history

Answer explanation

A consumer's credit report includes their payment history, which shows whether they have made any late payments. Savings account balances and loan approvals are not typically included in credit reports.