Section 3.1
 What
is the difference between a
checking account and a savings
account?
• Checking account
 Little to no interest earned on money
 No limit to the number of transactions
• Savings Account
 Earn interest (or more interest)
 Limited number of transactions per month
 Minimum balance
 Why
do people have checking account?
 What
are some ways to access the money
in a checking account?
• Going to the bank
• By using an ATM
• Writing checks
• Using a debit card
• EFT
 Balance
• The amount of money in the account
 Deposit
• Money going into the account
 Withdrawal
• Money going out of the account
 Maintenance Fee
• A fee that is charged by the bank to maintain
your account
 Interest
• Money earned by keeping your money in the
account
 Finding
the balance of a checking
account:
• Deposits are added into the account
 Cash deposit
 Interest
• Withdrawals are taken out of the account
 Writing a check
 Maintenance Fees
 You
currently have a balance of $2,300 in
your checking account. You deposit a
$425.33 paycheck, a $20 rebate check,
and a personal check for $550. You want
to receive $200 in cash. How much will
be in your account?
 You
currently have a checking account of Bank of
America. The balance at the beginning of the
month was $4,895. During the month, you make
deposits totaling $2,578, and wrote checks
totaling “c” dollars. You were charged a
maintenance fee of $15, and had an ending
balance of $5,973. Find “c”.
 Olivia
cashed a check for $113. The teller gave
her four twenty-dollar bills, “x” ten-dollar bills,
and three one dollar bills. Find the value of x.
 Page
120, 2-11
Section 3.1
 Yesterday, we
went over:
• The difference between a checking account and
savings account
• Defined key terms of checking accounts
• Calculated the balance of accounts after
transactions
2) Jackie deposited a $865.98 paycheck, a
$623 stock dividend check, a $60 rebate
check, and $130 cash into her checking
account. Her original balance was $278.91.
Assuming the checks clear, how much was
in her account after the deposit was made?
3) Rich has t dollars in his checking
account. On June 3, he deposited w, h, and
v dollars, and cashed a check for k dollars.
Write an algebraic expression that
represents the amount of money in his
account after the transaction.
4) John cashed a check for $630. The
teller gave him three fifty-dollar bills,
eighteen twenty-dollar bills, and t tendollar bills. Determine the value of t.
5) Gary and Ann have a joint checking
account. Their balance at the beginning of
October was $9,145.87. During the month,
they made deposits totaling $2,783.71,
wrote checks totaling $4,871.90, paid a
maintenance fee of $12, and earned $11.15
in interest on the account. What was the
balance at the end of the month?
6) Anna has a checking account at Garden
City Bank. Her balance at the beginning of
Feb. was $5,195.65. During the month, she
made deposits totaling $6,873.22, wrote
checks totaling c dollars, was charged a
maintenance fee of $15, and earned $6.05
in interest. Her balance at the end of the
month was $4,200.00. What is the value of
c?
7) Queens Meadow Bank charges a
monthly maintenance fee of $13 and a
check writing fee of $0.07 per check. Last
year, Mark wrote 289 checks from his
account at Queens Meadow. What was the
total of all fees he paid on that account last
year?
8) Joby had $421.56 in her checking
account when she deposited g twentydollar bills and k quarters. Write an
expression that represents the amount of
money in her account after the deposit.
9) Neka cashed a check for $245. The
teller gave him two fifty-dollar bills, six
twenty-dollar bills, and f five-dollar bills .
Determine the value of f.
10) Olivia cashed a check for $113. The
teller gave her four twenty-dollar bills, x
ten-dollar bills, and three one-dollar bills.
Find the value of x.
11) Hector had y dollars in his savings
account. He made a deposit of twentydollar bills and dollar coins. He had four
times as many dollar coins as he had
twenty-dollar bills and the total of his
twenty-dollar bills was $60. Write an
expression for the balance in Hector’s
account after the deposit.
 What
do the following terms mean:
• Balance
• Deposit
• Withdrawal
• Maintenance Fee
• Interest
• Rebate Check
 What
are the important parts to writing a
check?
• Return Address
• Date
• Pay to the Order of
• Amount (words & numbers)
• MEMO
• Signature
Return Address
Date
Pay to the Order of
Amount (in words)
Amount (in numbers)
MEMO
Signature
Description Catalog
Number
List Price
Quantity
Speaker
RS101
$285.00
2
Speaker
RG306
$542.00
2
Horns
BG42
$225
2
Console
LS101
$980.00
1
Amplifier
NG107
$359.00
4
Stand
1957-210 $45.50
6
Total:
12% Discount:
Sale Price:
6% Sales Tax:
Total Cost:
Total
 As
a project grade (30% of your total
grade), complete number 12 on page 121
of the text book. Your final answer will
the table completely filled in, as well as
the check correctly filled out.
 We
are going to create algebraic
expressions to express transactions in
checking accounts
 Money
going into your account
• → Deposit
 Money
going out of your account
• → Withdrawal
 You
have a total of d dollars in your
account. You make a cash deposit of x
dollars and deposit 5 checks worth y
dollars. You would like $250 cash back.
Express this as an algebraic expression.
Starting Balance: d
Deposits: x 5y
Withdrawals: 250
Algebraic Expression: d + x + 5y - 250
 You
have a total of m dollars in your
account. You make cash deposits of $225,
p dollars, and $85. You also cashed a
check for t dollars and one for $100.
Write an algebraic expression for this.
Starting Balance: m
Deposits: 225 p 85
Withdrawals: t 100
Algebraic Expression:
m + 225 + p + 85 – t - 100 = m + p + 210 - t
 You
and your parents have a joint
checking account. Your starting balance
was $5,000. During the month, you made
deposits of m dollars, wrote checks
totaling $2,850, paid a maintenance fee of
f dollars, and earned i dollars in interest.
Starting Balance: $5,000
Deposits: m
i
Withdrawals: 2,850 f
Algebraic Expression:
5,000 + m + i – 2,850 – f = m + i + 2,150 - f
 You
open a checking account. In
October, you had deposits totaling $1,478
and wrote checks totaling $855. You pay
a maintenance fee of $12 and earn
interest of $2. At the end of the month,
you have $2,192. What was your starting
balance?
Starting Balance: x
Deposits: 1,478 2 → 1,480
Withdrawals: 855 12 → 867
Algebraic Expression:
x + 1480 – 867 = 2,192 → x = $1,579
Page 120, 2-10
2. Jackie deposited a $865.98 paycheck,
a $623 stock dividend check, a $60
rebate check, and $130 cash into her
checking account. Her original balance
was $278.91. How much is in her
account?
Starting Balance: $278.91
Deposits: $865.98 $623 $60 $130
In her account now:
278.91 + 865.98 + 623 + 60 + 130
= $1,957.89
3. Rich has t dollars in his checking
account. On June 3, he deposited w, h, and
v dollars, and cashed a check for k dollars.
Write an algebraic expression
representing this.
Starting Balance: t
Deposits: w h v
Withdrawals: k
Algebraic Expression:
t+w+h+v-k
4. John cashed a check for $630. The teller
gave him three fifty-dollar bills, eighteen
twenty-dollar bills, and t ten dollar bills.
What is the value of t.
Starting Balance: $630
Three fifties: $150
Eighteen twenties: $360
Amount paid in tens: 630 – 150 - 360 = 120
$120 in tens would be 12 tens
5. Gary and Ann have a joint checking
account. Their balance at the beginning of
Oct. was $9,145.87. During the month they
made deposits totaling $2,783.71, wrote
checks totaling $4,871.90, paid a
maintenance fee of $12, and earned $11.15
in interest.
Starting Balance: $9,145.87
Deposits: $2,783.71 $11.15
Withdrawals: $4,871.90 $12
Final Balance: $7,056.83
6. Anna has a checking account. Her
balance at the beginning of February was
$5,195.65. During the month, she made
deposits totaling $6,873.22, wrote checks
totaling c dollars, paid a maintenance fee
of $15, and earned $6.05 in interest. Her
balance was $4,200. What is c?
Starting Balance: 5,195.65
Deposits: 6,873.22 6.05
c = $7,859.92
Withdrawals: c 15
5,195.65 + 6,873.22 + 6.05 – c -15 = 4,200
7. Queens bank charges a monthly fee of
$13 and a check writing fee of $0.07 per
check. Last year, Mark wrote 289 checks.
What was the total of all his fees?
Maintenance: $13 / month → $156 / year
Checks: $0.07 x 289 → $20.23
Total: $156 + $20.23 → $176.23
8. Joby had $421.56 in her checking
account when she deposited g twentydollar bills and k quarters. Write an
expression for this.
Starting Balance: $421.56
Deposits: g twenty-dollar bills → 20g
k quarters: → 0.25k
Expression: 421.56 + 20g + 0.25k
9. Neka cashed a check for $245. The
teller gave him two fifty-dollar bills, six
twenty-dollar bills, and f five-dollar bills.
What is the value of f?
Check amount:
$245
Two fifty-dollar bills: $100
Six twenties: $120
Remaining Amount: $25
Five dollar-bills:
$5
10. Olivia cashed a check for $113. The
teller gave her four twenty-dollar bills, x
ten-dollar bills, and three-one dollar bills.
What is the value of x?
Check amount:
$113
Four twenties: $80
Three ones:
$3
Remaining Amount: $30
Ten dollar-bills:
$3