1 / 8

Deposits

SECTION. 5-1. pp. 196-198. Deposits. Key Words to Know. savings account (p. 196) A special bank account for storing money for future use. deposit (p. 196) Money put into a bank account. Formula. Total Deposit = (Currency + Coins + Checks) – Cash Received. Example 1.

step
Download Presentation

Deposits

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. SECTION 5-1 pp. 196-198 Deposits

  2. Key Words to Know savings account (p. 196) A special bank account for storing money for future use. deposit (p. 196) Money put into a bank account.

  3. Formula Total Deposit = (Currency + Coins + Checks) – Cash Received

  4. Example 1 Joem Omma has a check for $145.58 and a check for $47.51. He also has 14 one-dollar bills. He would like to receive $20 in cash and deposit the rest of the money in his savings account. What is the total deposit?

  5. Example 1 Answer Step: Compute the total deposit. (Currency + Coins + Checks) – Cash Received ($14.00 + $145.58 + $47.51) – $20.00 = $207.09 – $20.00 = $187.09

  6. Example 2 Bobby wants to deposit the following into his savings account: 28 one-dollar bills, 8 five-dollar bills, 24 quarters, 35 dimes, 90 pennies, a check for $29.34, and a check for $124.19. He wants to receive a fifty-dollar bill in cash. How much will he deposit?

  7. Example 2 Answer Step: Compute the total deposit. Currency: $28 + (8 ×$5) = $28 + $40 = $68 Coins: (24 ×$0.25) + (35 ×$0.10) + $0.90 = $6.00 + $3.50 = 0.90 = $10.40 Total deposit: $68.00 + $10.40 + $29.34 +$124.19 – $50.00 = $181.93

  8. 197-198: 3-25 END OF SECTION 5-1 Deposits

More Related