unit (3)

Devonte is balancing his checking account. His account statement does not include a deposit of $107.00 that he made on November 1st. What is Devonte's actual account balance?

$1,330.26

Selma deposited a paycheck for $378.42. She'll use the check register to record her transaction. What will be her new balance?

$3,014.83

Ming made a car insurance payment of $122.50. He'll use the check register to record his transaction. What will be his new balance?

$679.60

Sarah transferred $450.00 from her savings account to her checking account. She'll use the check register to record her transaction. What will be her new balance?

$700.05

Paul wrote a check to the dentist for $345.69. He'll use the check register to record his transaction. What will be his new balance?

$704.73

Lyle deposited a check for $75.26. He'll use the check register to record his transaction. What will be his new balance?

$896.44

Irma has $500 to open a checking account. She wants an account with the lowest fees. She plans to use only her bank's ATM to deposit her paychecks and withdraw cash. Which checking account would be best for Irma?

Account A

James has $1500 to open a checking account. He can maintain a monthly balance of at least $1000. He plans to use the ATM four times per month at his local branch. He does not overdraft his account and plans to use direct deposit. He also plans to pay his bills online and he averages 8 bills per month. James wants an account with the lowest fees. Which checking account would be best for James?

Account A

Kylie has $500 to open a checking account. She wants an account with the lowest fees. She sometimes writes a check for more money than she has in her account. She plans on using only her bank's ATM to deposit her paychecks and withdraw cash. Which checking account would be best for Kylie?

Account A

Natasha has $1000 to open a checking account. She can maintain a monthly balance of $600. She also has a savings account at the same bank. Her employer offers direct deposit and she plans to use online bill paying. She writes about eight checks per month. She currently uses the ATM machines at several different banks. Natasha sometimes overdraws her account. Natasha wants an account with the lowest fees. Which checking account would be best for Natasha?

Account A

Wilbur has $800 to open a checking account. He can maintain a minimum balance of at least $500. He plans to use the ATM twice a month and he maintains a savings account at the same bank. His employer has direct deposit and he sometimes overdrafts his account. Wilbur wants a checking account with the lowest fees. Which checking account would be best for Wilbur?

Account A

Becca has $500 to open a checking account. She wants an account with the lowest fees. She writes about 12 checks per month and her employer has direct deposit. She plans to only use her bank's ATM four times a month. Which checking account would be best for Becca?

Account B

Jana has $100 to open a checking account. She can maintain a monthly balance of $300. She also has a savings account at the same bank. She plans to use online bill paying and write fewer than 10 checks per month. She currently uses her bank's ATM several times per month. Jana does not overdraw her account. Jana wants an account with the lowest fees. Which checking account would be best for Jana?

Account B

Terrell has $300 to open a checking account. He plans to use the ATM four times per month at his local branch. He does not overdraft his account. Which checking account would be best for Terrell?

Account B

Karen has $800 to open a checking account. She wants an account with the lowest fees. She only writes about five checks per month and her employer has direct deposit. She does not plan on using the ATM or online banking. Which checking account would be best for Karen?

Account C

Which account has the lowest minimum balance requirement?

Account D

Which bank has the highest possible overdraft fee?

Bank A

Which bank does not charge at all for using the ATM?

Bank B

Beth withdrew $35 from her checking account. In which column should she record the $35 withdrawal?

Debit

Martin puts his weekly paycheck into his checking account. In which column should he write the value of his paycheck?

Deposits

Fido wants to buy a new car. He will need to get a car loan. Fido decides to wait for a few months until his credit history improves. Which explains whether Fido is making a sensible decision?

Fido's decision is sensible because the cost of the car loan should be less if his credit history improves.

Xavier buys a computer for $525, which includes taxes. He pays for the computer over a 12-month period by paying $48.13 per month. Which statement about Xavier's purchase is most likely true?

He used a credit card to make the purchase and paid an additional $52.56 in interest.

A lender is assessing customers for loans. The credit scores of four customers are below. Ida Corrine Bruce 820 550 390 Which person will the lender assess as having the lowest risk?

Ida

Kenya used a debit card to buy a pair of jeans. Which statement is true about her method of payment?

Kenya used money directly from her bank account to buy the jeans.

Which helps to establish a negative credit history?

Pay less than the minimum amount due.

Sal and Jen went to the store together, and each bought the same car stereo. Sal used a card to make the purchase, and the full amount was immediately withdrawn from his bank account. Jen used a card to make the purchase, and she received a bill within 15 days of the purchase. She paid $21.30 for the next 18 months until the bill was paid in full. The full payment included $58.60 in interest. Which statement describes Sal's purchase?

Sal used a debit card and paid a total of $324.80 for the stereo.

Simon used a credit card to buy a skateboard. Which statement is true about his method of payment?

Simon will receive the bill later.

Tamera and Rupert each applied for the same credit card through the same company. Tamera has a positive credit history. Rupert has a negative credit history. Which compares their credit limits and likely interest rates?

Tamera's credit limit is most likely higher than Rupert's, and her interest rate is most likely lower.

Which information is found on a credit report?

credit account history

Yoko is buying a car from a local car dealership. She wants to get the lowest interest rate possible. Which will most likely help her get the lowest interest rate?

explaining that she has many outstanding loans

Quincy listed information from his credit report. Which list could Quincy have written?

previous address, current address, bankruptcy, car loan payment history

Before applying for a credit card, Jacob examines his credit report. Which explains why Jacob might examine his credit report?

to determine if he has a history of good credit

Before giving a loan to a customer, a lender examines the customer's credit report. Which explains why the lender examines the customer's credit report?

to determine if the customer is likely to pay back the loan

Tyler is using a credit card to purchase a television. Which of the following should Tyler expect? Check all that apply.

to receive a bill at a later date to be able to pay for it over time to pay interest if he does not pay in full by a certain date