Banking/Budgeting Unit. Interest Review You invested $37,000.00 in the bank. The account yields 12%, is compounded monthly, and sits in the bank for 12.

Slides:

Advertisements

Similar presentations

Money Management Key Terms.

Advertisements

Check Writing All About Checks.

Chapter 9 Review. Parts of a Check 7 89 Date line Payee Numeric amount Written amount Memo Signature Check # Bank routing and account #’s.

Chapter 5 Vocabulary Review

CREATIVE LIVING PG. 311  Write the answers on the back of the worksheet on the middle table  Get a pair of scissors.

Banking and Checking Pat Papazoglou. Void

Checking Accounts. Things Not To Do Don’t write checks for more money than you have in your account. ▫You could be charged an overdraft fee by your financial.

FINANCIAL AWARENESS Checking & Savings Accounts Lesson 3: Managing a Checking Account – Part 1 Instructor PowerPoint Copyright © 2009, Thinking Media,

What do the following words mean?  Real  Yen  Birr  Rupee  Bolivar  Riyal  Euro.

7.2 Use Your Checking Account Goals: ◦Understand the purpose of a checking account. ◦Demonstrate how to write, endorse, record, and deposit checks. ◦Identify.

Money on demand! The Checking Account

Check Writing All About Checks. Check Writing Checks include the following information:

FINANCE Chapter 9 Checking Accounts and Other Banking Services.

Banking Jeopardy Double Jeopardy Banking Terms Electronic Banking Savings Accounts Signing.

Common payment services What are the common payment services provided by financial institutions? 1.

Checking Accounts. What is a Checking Account? 1.A checking account is a sum of money that you deposit in a bank or other financial institution, to hold.

Checking Accounts and Other Banking Services

Check: A written order to a bank to pay the stated amount to the person or business (payee)named on the check. Canceled check: A check that bears the.

Checks, Deposits, Registers, and Reconciliations.

Consumer Math How to Write a Check.

Day 1 Terms of the Day 1. Financial- having to do with money 2. Financial Management- how you manage your money 3. Financial Goal- something you wish.

Checking Accounts & Banking Services. Purpose Checking account: an account that allows depositors to write checks to make payments Check: written order.

Checking Accounts Chapter 9. Basics Check: ▫Written order to bank to pay the amount stated to the person or business named on it. Demand deposit: ▫Money.

7.2 Use Your Checking Account

 For thousands of years, people have used some sort of currency or type of money to pay for things they want. Different countries and cultures have used.

Check Writing All About Checks.

Personal Finance The Parts of a Check.

Ms. Smith. 1. Choose a bank. 2. Pick the product you want (individual or joint). 3. Provide your information. 4. Agree to terms. 5. Congratulate yourself!

Bellwork Why is it important to know how to write checks? Get notes out.

Check Writing All About Checks. Check Writing Checks include the following information:

Chapter © 2010 South-Western, Cengage Learning Checking Accounts and Banking Services Checking Accounts 9.

Part 3: Check Writing Dollars & Sense. Tips for Good Check Writing 1. Write checks in ink. 2. Only write checks if you have money in account to cover.

Check Writing All About Checks. Check Writing Checks include the following information:

CHAPTER 5 By: Ashley Kea. KEY POINTS  Depositing Cash  Blank Endorsement, Special Endorsement, and Restrictive Endorsement  Check Stub and Check 

Chapter  Convenient  Safe  Proof of payment  Record for financial management.

Chapter 9 – Checking Accounts & Banking. Checking Account Check: written order to a bank to pay a specific amount to a person/business (payee) Canceled.

PRODUCTS OF BANKING. Endorsements Before you cash, deposit, or transfer a check to someone else, you must first endorse the check. Endorse: to sign your.

Unit 1, Lesson 2 Vocabulary. Income The money people earn for their work 2.

CHECKING VOCABULARY Lesson 1. CHECK A check is a written, dated and signed slip of paper that contains an unconditional order from the drawer that directs.

CHECKBOOK PREPARATION for Enterprise City. Your checkbook has three parts: Register pages Checks Deposit Slips.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5-1 Checking Accounts.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 5-1 Checking Accounts.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5-1 Checking Accounts  How businesses use cash  Cash deposited and recorded on a.

Creating a Budget Review  Determine your income.  Determine your fixed expenses.  Determine your flexible expenses.  Total your expenses and subtract.

Check Writing All About Checks. Check Writing Checks include the following information:

Check Writing All About Checks. Check Writing Checks include the following information:

Chapter 9 Checking Accounts and Other Banking Services.

Checking Accounts CheckCheck A written order to pay a stated amount to a person or business Checking accountChecking account  Also known as “demand deposit”

Check Writing All About Checks.

LESSON 5-1 Checking Accounts

Check Writing All About Checks.

Check Writing All About Checks.

I am so happy to have you all in class today 

DO NOT WRITE BELOW THIS LINE

Check Writing All About Checks.

LESSON 5-1 Checking Accounts

Check Writing All About Checks.

LESSON 5-1 Checking Accounts

Check Writing All About Checks.

Check Writing All About Checks.

LESSON 5-1 Checking Accounts

Check Writing All About Checks.

Check Writing All About Checks.

LESSON 5-1 Checking Accounts

Checking Account Check: written order to a bank to pay a specific amount to a person/business (payee) Canceled check: a check that has cleared the bank’s.

Review What is the difference between simple interest and compound interest? Which will earn more? What 4 methods can you use to take money out of a checking.

Check Writing All About Checks.

Check Writing All About Checks.

Check Writing All About Checks.

Balancing a Checkbook UNIT FOUR.

Presentation transcript:

Banking/Budgeting Unit

Interest Review You invested $37, 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 $ 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?

Writing Checks Independent Living November 17, 2015

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.

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

How to!

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, $ for his services.

Balancing Registers Independent Living November 17, 2015

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

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

Practice: NumberDateDescriptionAmount Beginning Balance$2, /1Adam Smith- Rent$ DC12/3Safeway$ /10Deposit- Paycheck$2, /12Macy’s$ DC12/13Target$ /15Daytime Daycare$ DC12/20Napa Auto Parts$65.00 Deposit- Interest$0.35 What is the ending balance?