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.

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Presentation transcript:

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 account? Which of these does not apply to savings accounts?

Review 3. What are the 3 types of check endorsements? 4. You deposit $300 in a savings account paying 6% interest, compounded monthly. What is your balance after 3 months?

Review 5. Benji has $221.14 in his savings account. He then deposited checks for $98.04 and $123.54 as well as $75 cash. What is his new balance after the deposits?

Review 6. D.J. and Ashley have a balance of $741.01 in their check register. D.J. writes a check for $200 and deposits a paycheck for $620.98. Ashley then pays bills online in the amounts of $72.24, $305.64 and $231.85. What is the new balance in the check register after these transactions?

Review 7. The Hills have a joint bank account with a balance of $1143.56 in their check register. The ending balance on the bank statement is $985.90. Not reported on the statement are checks for $21.15, $110 and $65.18. There are outstanding deposits of $300 and $55.21? There are also 2 ATM withdrawals of $40 each. Do the bank statement and check register balance?