Financial Math
Anna is choosing a bank and a checking account. She would be well-advised to
consider her personal needs and values in the analysis, not only the bank's
features - ANS - True
\Ben is looking at banks for checking and savings accounts. Some offer car loans
and others do not. Ben may need a car loan sometime in the next few years. But
Ben wonders if he should really ask what kinds of loans the bank makes, because
he is getting a checking account, not a car loan. Which statement below gives the
best reason for Ben to consider loan availability in choosing a checking account?
- ANS - B. If he needs a car loan in the future, he will have a relationship of trust
with the bank
\Brett tallies up the transactions in his check register and comes up with a total
balance of $248.53, but his bank statement says that his balance is $257.72.
Which of the following are still outstanding? - ANS - D. IV. A $ 64.79 check deposit
from Brett's cousin
\check register - ANS - A check register is a booklet used to record account
transactions.
\closing balance - ANS - The closing balance is the balance, after deductions, in
an account at the end of a predetermined period of time.
\Consider the following incomplete deposit slip:
Description
Amount ($)
Cash, including coins
150
75
Check 1
564
81
Check 2
2192
43
Check 3
4864
01
Subtotal
????
??
, Less cash received
????
??
Total
7050
50
How much cash did the person who filled out this deposit slip receive? - ANS - d.
721.50
\Downtown Bank offers a checking account. The bank charges a fee for
overdrafts, monthly maintenance for balances below $300, out-of-network ATM
withdrawals, and more than three money transfers in a month.
What are three things you can do to avoid fees from a Downtown Bank checking
account? - ANS - Answers: Always keep more than 300$ in your account. Always
keep track of your balance. Avoid making out of network ATM withdrawals. Avoid
making more than three money transfers each month
\Enter the following transactions into Richard's checkbook register and state his
ending balance:
Date
Type
Description
Amount
03/01
Check #204
Blue Sky Apartments
$455.00
03/05
DEP
Payroll automatic deposit
$390.36
03/08
Debit
Benny's Hamburgers and Fries
$9.20
03/15
Check #205
Car payment
$251.59
03/19
DEP
Anna is choosing a bank and a checking account. She would be well-advised to
consider her personal needs and values in the analysis, not only the bank's
features - ANS - True
\Ben is looking at banks for checking and savings accounts. Some offer car loans
and others do not. Ben may need a car loan sometime in the next few years. But
Ben wonders if he should really ask what kinds of loans the bank makes, because
he is getting a checking account, not a car loan. Which statement below gives the
best reason for Ben to consider loan availability in choosing a checking account?
- ANS - B. If he needs a car loan in the future, he will have a relationship of trust
with the bank
\Brett tallies up the transactions in his check register and comes up with a total
balance of $248.53, but his bank statement says that his balance is $257.72.
Which of the following are still outstanding? - ANS - D. IV. A $ 64.79 check deposit
from Brett's cousin
\check register - ANS - A check register is a booklet used to record account
transactions.
\closing balance - ANS - The closing balance is the balance, after deductions, in
an account at the end of a predetermined period of time.
\Consider the following incomplete deposit slip:
Description
Amount ($)
Cash, including coins
150
75
Check 1
564
81
Check 2
2192
43
Check 3
4864
01
Subtotal
????
??
, Less cash received
????
??
Total
7050
50
How much cash did the person who filled out this deposit slip receive? - ANS - d.
721.50
\Downtown Bank offers a checking account. The bank charges a fee for
overdrafts, monthly maintenance for balances below $300, out-of-network ATM
withdrawals, and more than three money transfers in a month.
What are three things you can do to avoid fees from a Downtown Bank checking
account? - ANS - Answers: Always keep more than 300$ in your account. Always
keep track of your balance. Avoid making out of network ATM withdrawals. Avoid
making more than three money transfers each month
\Enter the following transactions into Richard's checkbook register and state his
ending balance:
Date
Type
Description
Amount
03/01
Check #204
Blue Sky Apartments
$455.00
03/05
DEP
Payroll automatic deposit
$390.36
03/08
Debit
Benny's Hamburgers and Fries
$9.20
03/15
Check #205
Car payment
$251.59
03/19
DEP
