Banking

What does it mean to earn interest on your savings account?

• Money the bank pays for keeping you money in that institution

• Money you have to pay

• Extra charges on you account

Tags

CCSS.7.RP.A.3

What is a savings account?

• A bank account where you can write checks as payment

• A bank account where you can earn interest on your money

• A bank account where you must invest your money for a specific amount of time

• An investment where you earn a great amount of money

What is a checking account?

• A banking account that earns interest

• An investment that earn large sums of money

• A bank account where you can write a check as payment

• An account that must be paid over a period of time

An ATM is a computer terminal that allows you 24 hour access to you bank account.

• True

• False

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

CCSS.RI.8.3

An ATM machine only allows depositing of money into your bank account.

• True

• False

What is a check?

• A piece of paper you fill out to deposit money into you bank account

• A piece of paper written out to a person or company and is used as payment

• A worthless piece of paper

A check is treated like cash

• True

• False

What is the purpose of a checkbook register?

• To keep track of deposits made into your bank account

• To keep track of withdrawals made from you bank account

• To keep track of both deposits and withdrawals for your bank account

• To keep track of just the checks you write out.

What is a transaction?

• Deposits only

• Withdrawals only

• Any deposit or withdrawal from your bank account

• The latest movie everyone is talking about

When using a deposit slip you can deposit__________.

• Cash only

• Only check

• Both cash and checks

• nothing