1. Deposits pp. 196-198 SECTION 5-1

2. SECTION MBA, Section 5-1, Slide 2 of 14 5-1 Section Objective Complete: a savings account deposit slip Compute total deposit

3. SECTION MBA, Section 5-1, Slide 3 of 14 5-1 savings account (p. 196) A special bank account for storing money for future use. deposit (p. 196) Money put into a bank account. Key Words to Know

4. SECTION MBA, Section 5-1, Slide 4 of 14 5-1 Total Deposit = (Currency + Coins + Checks) – Cash Received Formula

5. SECTION MBA, Section 5-1, Slide 5 of 14 5-1 Understanding the Williams Sisters p. 196 If you deposited $100 into a savings account with 2.3 percent interest, what would be your total balance at the end of the year?

6. SECTION MBA, Section 5-1, Slide 6 of 14 5-1 Gustavo Barrera has a check for $145.58 and a check for $47.51. He also has 14 one- dollar bills. He would like to receive $20 in cash and deposit the rest of the money in his savings account. What is the total deposit? Example 1

7. SECTION MBA, Section 5-1, Slide 7 of 14 5-1 Step: Compute the total deposit. (Currency + Coins + Checks) – Cash Received ($14.00 + $145.58 + $47.51) – $20.00 = $207.09 – $20.00 = $187.09 Example 1 Answer

8. SECTION MBA, Section 5-1, Slide 8 of 14 5-1 Robert Cassidy wants to deposit the following into his savings account: 28 one- dollar bills, 8 five-dollar bills, 24 quarters, 35 dimes, 90 pennies, a check for $29.34, and a check for $124.19. He wants to receive a fifty-dollar bill in cash. How much will he deposit? Example 2

9. SECTION MBA, Section 5-1, Slide 9 of 14 5-1 Step: Compute the total deposit. Currency: $28 + (8 × $5) = $28 + $40 = $68 Coins: (24 × $0.25) + (35 × $0.10) + $0.90 = $6.00 + $3.50 = 0.90 = $10.40 Total deposit: $68.00 + $10.40 + $29.34 +$124.19 – $50.00 = $181.93 Example 2 Answer

10. SECTION MBA, Section 5-1, Slide 10 of 14 5-1 Naomi Greenberg fills out a deposit slip for her savings account. She deposits a check for $445.96. She also has $215.44 in currency and $23.17 in coins. What is her total deposit? Practice 1

11. SECTION MBA, Section 5-1, Slide 11 of 14 5-1 $684.57 Practice 1 Answer

12. SECTION MBA, Section 5-1, Slide 12 of 14 5-1 Rafael Valderez deposits checks for $26.27 and $19.53 in his savings account. He also deposits 138 one-dollar bills, 62 five-dollar bills, 81 ten-dollar bills in currency and 60 quarters, 97 dimes, 59 nickels, and 42 pennies in coins. What is his total deposit? Practice 2

13. SECTION MBA, Section 5-1, Slide 13 of 14 5-1 $1,331.87 Practice 2 Answer

14. Deposits END OF SECTION 5-1