1. Banking/Budgeting Unit

2. Interest Review You invested $37,000.00 in the bank. The account yields 12%, is compounded monthly, and sits in the bank for 12 years. What is the final value of the investment at the end of the 12 years? Parker invests $150.75 in a bank who offers a yielding rate 6.8%. Parker decided that he wants to leave the money in the bank for 17 years. What is the final value of the investment at the end of 17 years? How much interest has the investment earned?

3. Writing Checks Independent Living November 17, 2015

4. Parts of the check: Date “Pay to the order of” Amount in numerals Amount in words Signature line “Memo” line Routing No. Account No. Check ID No.

5. Check Vocab! Post-Date: To prevent the payee from cashing the check for a certain period of time Payee: The person/business who is the recipient of the check Void: Disabling the check not allowing for it to clear Stub: Portion of the check kept for record keeping purposes Endorse: Giving specific instructions on what to do (i.e. cash only, deposit only) and signing your name

6. How to! https://www.youtube.com/watch?v=dIZWqIv_flA

7. Practice You are paying Hazen ASB $60.00 on November 17, 2015 to purchase a year book. On November 18, 2015, you payed your employee, John Smith, $400.00 for his services.

8. Balancing Registers Independent Living November 17, 2015

9. Parts of the register: Number or Code Date Transaction Description Payment Amount Deposit Amount Balance

10. Why balance a checkbook? Catching fraud or account hacks Making sure your accounts don’t bounce Identifies any outstanding checks/withdrawals

11. Practice: NumberDateDescriptionAmount Beginning Balance$2,500.00 102512/1Adam Smith- Rent$890.00 DC12/3Safeway$75.00 12/10Deposit- Paycheck$2,715.48 102612/12Macy’s$150.00 DC12/13Target$75.00 102712/15Daytime Daycare$200.00 DC12/20Napa Auto Parts$65.00 Deposit- Interest$0.35 What is the ending balance?