U2 Ch1: Checking Accounts and Linear Equations

Last updated 12 months ago

61 questions

Note from the author:

Instructions

Section 1: Paying for Things

Section 2: Checking Accounts

Section 3: Unbanked

Section 4: Bank Fees

Section 5: Percentages and Bank Fees

Section 6: 5pt Quiz

Section 7: Linear Patterns

Section 8: Apply It Review

Section 9: Apply It

Draggable item		Corresponding Item
Cash		Comes right out of your wallet, requires going to ATM/bank or getting paid/gifted money in cash
Debit		Connects to your checking account, takes money out instantly
Check		Connects to your checking account, depending on where you are making a purchase, money may come out instantly or in a few days
Credit

Draggable item		Corresponding Item
Cash		Comes right out of your wallet, requires going to ATM/bank or getting paid/gifted money in cash
Debit		Connects to your checking account, takes money out instantly
Check		Connects to your checking account, depending on where you are making a purchase, money may come out instantly or in a few days
Credit		Does not connect to your accounts, allows you to borrow money, borrowed money accrues interest which means you pay back more than you spent if you don't pay it back within a month (in most cases)

U2 Ch1: Checking Accounts and Linear Equations

U2 Ch1: Checking Accounts and Linear Equations

Choose the THREE most common forms of payment, based on the graph

What total percentage of purchases were paid for with either a credit card, debit card, or check?

Make a prediction - how do you think popular payment methods might change over time?

Critical thinking - what is the benefit of paying with cash/debit/check?

Critical thinking - what is the benefit of paying with credit?

List some ways to get money OUT of your checking account.

List some ways to get money INTO your checking account. Note: Two common methods not mentioned in the article are mobile banking apps and direct deposit. You’ll learn more about these methods in later lessons.

Why do you think it is important to have a FREE checking account, if possible?

Which reason to open an account is the most important to you, personally? Why?

Why might it be beneficial to get a text or email alert if your balance is low, there is a deposit or withdrawal, or a bill is due?

Why do you think it’s important to choose a bank account that is FDIC-insured? Note: The Federal Deposit Insurance Corporation (FDIC) insures the money you deposit in certain bank accounts, so you will not lose your money if the bank fails.

What is the purpose of a bank statement?

Why is it helpful to check each transaction on your statement?

You get official statements monthly, but you can also stay up to date on your transactions using the bank's app or website. How often do you think you would want to check your bank transactions and balance? Why?

Why do many people choose to use check-cashing services?

What are some of the disadvantages of being unbanked?

How might the shift towards digital banking, online shopping, and online bill payments impact people who are unbanked?

What percentage of people said their main reason was not having enough money to meet minimum balance requirements? (Hint: the lighter bars show Main Reasons)

Opinion: Why do you think “bank fees are too unpredictable” is frequently cited as a reason not to have a bank account, but only 1.5% of respondents said it was the main reason?

What fee or fees are the largest? Approximately how much are they?

Why might small ATM fees turn out to be very expensive?

What fees do you think you personally would be most likely to get hit with (incur)? Why?

What is misleading about the term “overdraft protection”?

True or False: Once you are signed up for overdraft protection, you cannot opt out.

What else did Sharon do to avoid future overdraft fees?

In your own words, briefly describe the benefit of each type of alert below:Low BalanceDirect DepositUnusual Activity

Opinion: All three of the alerts are highly recommended, which one do you think is most important? Why?

Round to the nearest hundredth (two decimal places)

Round to the nearest hundredth (two decimal places)

Round to the nearest hundredth (two decimal places)

Click on the show your work box. Look at the pattern, then fill in the table, the graph, and answer the questions

How many blocks would Figure 4 have in the pattern?

When finding Figure 4, which representation (graph, table, or equation) is most useful for you? Why?

What value goes here?

What value goes here?

Write the equation for the table of values

Write the equation for the table of values

Emma is a freelance graphic designer. She charges a $50 setup fee plus $30 per hour of work.Question: Write an equation that represents Emma’s total earnings, E, based on the number of hours worked,

A cell phone company charges a monthly base fee of $25, plus $0.10 per text message sent.Question: Write an equation to represent the total monthly cost, C for t text messages.

David sells homemade cookies at a farmers' market. He spends $15 on ingredients and sells each cookie for $2.Question: Write an equation for David’s profit, P after selling c cookies.

Choose the THREE most common forms of payment, based on the graph

What total percentage of purchases were paid for with either a credit card, debit card, or check?

Make a prediction - how do you think popular payment methods might change over time?

Critical thinking - what is the benefit of paying with cash/debit/check?

Critical thinking - what is the benefit of paying with credit?

List some ways to get money OUT of your checking account.

List some ways to get money INTO your checking account. Note: Two common methods not mentioned in the article are mobile banking apps and direct deposit. You’ll learn more about these methods in later lessons.

Why do you think it is important to have a FREE checking account, if possible?

Which reason to open an account is the most important to you, personally? Why?

Why might it be beneficial to get a text or email alert if your balance is low, there is a deposit or withdrawal, or a bill is due?

Why do you think it’s important to choose a bank account that is FDIC-insured? Note: The Federal Deposit Insurance Corporation (FDIC) insures the money you deposit in certain bank accounts, so you will not lose your money if the bank fails.

What is the purpose of a bank statement?

Why is it helpful to check each transaction on your statement?

You get official statements monthly, but you can also stay up to date on your transactions using the bank's app or website. How often do you think you would want to check your bank transactions and balance? Why?

Why do many people choose to use check-cashing services?

What are some of the disadvantages of being unbanked?

How might the shift towards digital banking, online shopping, and online bill payments impact people who are unbanked?

Check off the THREE most common reasons people listed (cited) for not having a bank account? Hint: Look at the darker bar in each pair

What percentage of people said their main reason was not having enough money to meet minimum balance requirements? (Hint: the lighter bars show Main Reasons)

Opinion: Why do you think “bank fees are too unpredictable” is frequently cited as a reason not to have a bank account, but only 1.5% of respondents said it was the main reason?

What fee or fees are the largest? Approximately how much are they?

Why might small ATM fees turn out to be very expensive?

What fees do you think you personally would be most likely to get hit with (incur)? Why?

What is misleading about the term “overdraft protection”?

True or False: Once you are signed up for overdraft protection, you cannot opt out.

What else did Sharon do to avoid future overdraft fees?

In your own words, briefly describe the benefit of each type of alert below:Low BalanceDirect DepositUnusual Activity

Opinion: All three of the alerts are highly recommended, which one do you think is most important? Why?

Round to the nearest hundredth (two decimal places)

Round to the nearest hundredth (two decimal places)

Round to the nearest hundredth (two decimal places)

Click on the show your work box. Look at the pattern, then fill in the table, the graph, and answer the questions

How many blocks would Figure 4 have in the pattern?

When finding Figure 4, which representation (graph, table, or equation) is most useful for you? Why?

What value goes here?

What value goes here?

Write the equation for the table of values

Write the equation for the table of values

In your own words, briefly describe the benefit of each type of alert below:
Low Balance
Direct Deposit
Unusual Activity

Emma is a freelance graphic designer. She charges a $50 setup fee plus $30 per hour of work.
Question: Write an equation that represents Emma’s total earnings, E, based on the number of hours worked,

A cell phone company charges a monthly base fee of $25, plus $0.10 per text message sent.
Question: Write an equation to represent the total monthly cost, C for t text messages.

David sells homemade cookies at a farmers' market. He spends $15 on ingredients and sells each cookie for $2.
Question: Write an equation for David’s profit, P after selling c cookies.

In your own words, briefly describe the benefit of each type of alert below:
Low Balance
Direct Deposit
Unusual Activity

Emma is a freelance graphic designer. She charges a $50 setup fee plus $30 per hour of work.
Question: Write an equation that represents Emma’s total earnings, E, based on the number of hours worked,

A cell phone company charges a monthly base fee of $25, plus $0.10 per text message sent.
Question: Write an equation to represent the total monthly cost, C for t text messages.

David sells homemade cookies at a farmers' market. He spends $15 on ingredients and sells each cookie for $2.
Question: Write an equation for David’s profit, P after selling c cookies.