AnswersPersonal Finance - EL3403Understanding Checking and Debit Accounts

Understanding Checking and Debit Accounts Answers

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

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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. Bank Account Terms and ConditionsWhich checking account would be best for Becca?

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A
Account A
B
Account B
C
Account C
D
Account D
3

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. Bank Account Terms and ConditionsWhich checking account would be best for Irma?

Question illustration
A
Account A
B
Account B
C
Account C
D
Account D
4

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. Bank Account Terms and ConditionsWhich checking account would be best for Kylie?

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A
Account A
B
Account B
C
Account C
D
Account D
5

Which bank does not charge at all for using the ATM? Bank Account Terms and Conditions

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A
Bank A
B
Bank B
C
Bank C
D
Bank D
6

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

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A
Check Number
B
Debit
C
Deposit
D
Balance
7

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?

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A
$704.73
B
$720.62
C
$1,233.58
D
$1,579.27
8

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

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Answer not available
9

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

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A
$821.00
B
$896.44
C
$938.00
D
$979.56
10

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

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A
$2,257.99
B
$2,337.06
C
$3,014.83
D
$3,057.31

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