Deposits pp SECTION

Click to edit Master text styles Second level Third level Fourth level Fifth level 2 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 2 of Warm - Up Add or Subtract 1)98.93 – = 3) – = 2) = 4) =

Click to edit Master text styles Second level Third level Fourth level Fifth level 3 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 3 of Section Objective Complete: a savings account deposit slip Compute total deposit

Click to edit Master text styles Second level Third level Fourth level Fifth level 4 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 4 of Understanding the Williams Sisters Jaydene has explained to her sister that a savings account actually earns money for the account owner. “The bank takes all the money people put into it and invests it by making mortgages loans, car loans, buying government securities, and loaning it to other banks. It earns money for the bank, and the bank shares some of that extra money with its customers.”

Click to edit Master text styles Second level Third level Fourth level Fifth level 5 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 5 of If you deposited $100 into a savings account with 2.3 percent interest, what would be your total balance at the end of the year?

Click to edit Master text styles Second level Third level Fourth level Fifth level 6 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 6 of savings account A special bank account for storing money for future use. deposit Money put into a bank account. Key Words to Know

Click to edit Master text styles Second level Third level Fourth level Fifth level 7 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 7 of Total Deposit = (Currency + Coins + Checks) – Cash Received Formula

Click to edit Master text styles Second level Third level Fourth level Fifth level 8 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 8 of Gustavo Barrera has a check for $ and a check for $ 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? Example 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 9 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 9 of Step: Compute the total deposit. (Currency + Coins + Checks) – Cash Received ($ $ $47.51) – $20.00 = $ – $20.00 = $ Example 1 Answer

Click to edit Master text styles Second level Third level Fourth level Fifth level 10 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 10 of Robert Cassidy 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 $ He wants to receive a fifty-dollar bill in cash. How much will he deposit? Example 2

Click to edit Master text styles Second level Third level Fourth level Fifth level 11 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 11 of Step: Compute the total deposit. Currency: $28 + (8 × $5) = $28 + $40 = $68 Coins: (24 × $0.25) + (35 × $0.10) + $0.90 = $ $3.50 = 0.90 = $10.40 Total deposit: $ $ $ $ – $50.00 = $ Example 2 Answer

Click to edit Master text styles Second level Third level Fourth level Fifth level 12 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 12 of Naomi Greenberg fills out a deposit slip for her savings account. She deposits a check for $ She also has $ in currency and $23.17 in coins. What is her total deposit? Practice 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 13 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 13 of $ Practice 1 Answer

Click to edit Master text styles Second level Third level Fourth level Fifth level 14 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 14 of Rafael Valderez deposits checks for $26.27 and $19.53 in his savings account. He also deposits 138 one-dollar bills, 62 five-dollar bills, 81 ten-dollar bills in currency and 60 quarters, 97 dimes, 59 nickels, and 42 pennies in coins. What is his total deposit? Practice 2

Click to edit Master text styles Second level Third level Fourth level Fifth level 15 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 5-1, Slide 15 of $1, Practice 2 Answer

Deposits 5-1 END OF SECTION