Section 3.1
 Check
 Deposit
 Withdrawal
 Interest
 ATM
 Transaction
Fee
 Basic
Checking Account
Most widely used. Do not pay interest. Limited
number of checks per month.
 Interest-bearing
Checking Account
Pay interest. Minimum balance.
 Free
Checking Account
No minimum balance or monthly fee. Can be
charged for checks.
 Joint
Checking Account
Checking account owned by more than 1 person.
 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
depositing
total of 795.33
Totalare
Amount
BeingaDeposited:
Add
this amount
your original balance:
= 425.33
+ 20 + to
550
==2,300
+ 795.44
$995.44
= 3,095.33
Subtract the cash received
You have a new balance of $3,095.33 in your
= 995.33 - 200
checking account
= 795.33
 Page
120, 2-10
 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