Understanding Banking and Finances

Which of the following can be used to purchase goods and services?

• Debit Card

• Credit Card

• Both

Tags

TEKS.MATH.6.14B

Replaces cash

• Debit Card

• Credit Card

• Both

Tags

TEKS.MATH.6.14B

Maggie is comparing financial institutions to find the best deal for her. She wants a low or free checking account and free ATM usage. The cost and features of two different banking options are listed. Which financial institution is the best deal for her and why?

• Financial institution option number 1 is the best deal for her because it has a checking account fee of only $7.

• Financial institution option number 2 is the best deal for her because their basic checking is free.

• Financial institution option number 1 is the best deal for her because it has free online banking.

• Financial institution option number 2 is the best deal for her because it has a check writing charge of only $0.25.

Tags

TEKS.MATH.6.14A

Mr. Johnson prefers to handle all his financial transactions online and keeps a minimum balance of $500 in his checking account. He frequently uses his debit card for purchases and ATM withdrawals. Which banking institution should he choose?

• A bank that offers no monthly fees for checking accounts, provides online banking services, and includes a free debit card.

• A bank that charges a small fee for checking accounts and offers $0.20 per check written.

• A bank that has a low monthly service fee for checking accounts, unlimited check writing, and overdraft protection.

• A bank that offers no fees for check writing and includes a savings account option.

Tags

TEKS.MATH.6.14A

• 70

• -70

• 30

• 20

Tags

TEKS.MATH.6.14C

Noah keeps track of his checking account balance by writing down all his purchases and deposits. The list below shows his transactions for a week. - June 3rd, used debit card at coffee shop, $5.85 - June 4th, deposit of $20.00 - June 6th, used debit card for movie tickets, $9.75 - June 6th, used debit card for popcorn and snacks, $10.50 - June 8th, deposit, $115.34 What is the difference between the amount of money Noah spent and the amount of money Noah deposited?

• $109.24

• $203.34

• $150.24

• $254.05

Tags

TEKS.MATH.6.14C

Amelia is attending college. She received money based on her financial need that she does not have to pay back. What is this type of money for college called?

• loan

• grant

• work-study program

• college savings plan

Tags

TEKS.MATH.6.14G

A type of college loan program that allows you to borrow money now and pay it back with interest later is called what type of loan program?

• grants

• scholarship loans

• student loans

• college savings plan

Tags

TEKS.MATH.6.14G