1. SECTION 4-1 pp
Deposits

2. Section Objective
Compute:
total checking account deposit

3. Key Words to Know deposit (p. 166) Money put into a bank account.
automatic teller machine (ATM) (p. 166)
A bank machine that allows you to deposit or withdraw money electronically using a card.

4. Key Words to Know personal identification number (PIN) (p. 166)
A personal number on a bankcard that gives you access to your bank account electronically.

5. Formula
Total Deposit =
(Currency + Coin + Checks) – Cash Received

6. Fleet Footed Finances p. 166
What’s the purpose of a deposit slip?

7. Example 1
Margaret Miller makes a deposit at an ATM. She has a check for $ and a check for $55.47.
She would like to receive $40 in cash and deposit the rest in her checking account.
What is her total deposit?

8. Example 1 Answer Step: Compute the total checking account deposit.
(Currency + Coin + Checks) – Cash Received
($ $55.47) – $40.00 = $250.89

9. Example 2
Manuel Romeo has checks for $435.20, $271.19, and $ He has cash consisting of 15 one-dollar bills, 7 five-dollar bills, 3 ten-dollar bills, 24 quarters, 5 dimes, 15 nickels, and 14 pennies. He would like to keep $75 in cash.
What is his total deposit?

10. Example 2 Answer Step: Compute the total deposit.
Currency: $15 + (7 × $5) + (3 × $10) = $80
Coins: (24 × $0.25) + (5 × $0.10) + (15 × $0.05) + $0.14 = $7.39
Checks: $ $ $ = $1,034.35
($80 + $ $1,034.35) – $75 = $1,046.74

11. Practice 1
Find the total deposit.
$ $ $155

12. Practice 1 Answer
$251.91

13. Practice 2 Checks: $426.19 and $827.43
Cash: 24 one-dollar bills, 8 five-dollar bills, and 11 ten-dollar bills
Coins: 18 quarters, 52 dimes, 57 nickels, and 15 pennies.

14. Practice 2 Answer
$1,440.32

15. END OF SECTION 4-1
Deposits