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Transcript of Deposits pp. 166-168 4-1 SECTION. Click to edit Master text styles Second level Third level Fourth...
![Page 1: Deposits pp. 166-168 4-1 SECTION. Click to edit Master text styles Second level Third level Fourth level Fifth level 2 SECTION Copyright © Glencoe/McGraw-Hill.](https://reader036.fdocuments.net/reader036/viewer/2022062317/5a4d1af97f8b9ab0599832d2/html5/thumbnails/1.jpg)
Deposits pp. 166-1684-1SECTION
![Page 2: Deposits pp. 166-168 4-1 SECTION. Click to edit Master text styles Second level Third level Fourth level Fifth level 2 SECTION Copyright © Glencoe/McGraw-Hill.](https://reader036.fdocuments.net/reader036/viewer/2022062317/5a4d1af97f8b9ab0599832d2/html5/thumbnails/2.jpg)
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 2 of 15
4-1Section ObjectiveSection ObjectiveCompute:
• total checking account deposit
![Page 3: Deposits pp. 166-168 4-1 SECTION. Click to edit Master text styles Second level Third level Fourth level Fifth level 2 SECTION Copyright © Glencoe/McGraw-Hill.](https://reader036.fdocuments.net/reader036/viewer/2022062317/5a4d1af97f8b9ab0599832d2/html5/thumbnails/3.jpg)
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 3 of 15
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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.
Key Words to KnowKey Words to Know
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 4 of 15
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personal identification number (PIN) (p. 166)A personal number on a bankcard that gives you access to your bank account electronically.
Key Words to KnowKey Words to Know
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 5 of 15
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Total Deposit = (Currency + Coin + Checks) – Cash Received
FormulaFormula
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 6 of 15
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What’s the purpose of a deposit slip?
Fleet Footed Finances p. 166Fleet Footed Finances p. 166
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 7 of 15
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Margaret Miller makes a deposit at an ATM. She has a check for $235.42 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?
Example 1Example 1
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 8 of 15
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Step: Compute the total checking account deposit.(Currency + Coin + Checks) – Cash Received($235.42 + $55.47) – $40.00 = $250.89
Example 1 AnswerExample 1 Answer
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 9 of 15
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Manuel Romeo has checks for $435.20, $271.19, and $327.96. 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?
Example 2Example 2
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 10 of 15
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Step: Compute the total deposit.Currency: $15 + (7 × $5) + (3 × $10) = $80Coins: (24 × $0.25) + (5 × $0.10) + (15 × $0.05) + $0.14 = $7.39Checks: $435.20 + $271.19 + $327.96 = $1,034.35($80 + $7.39 + $1,034.35) – $75 = $1,046.74
Example 2 AnswerExample 2 Answer
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 11 of 15
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Find the total deposit.$82.63 + $14.28 + $155
Practice 1Practice 1
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 12 of 15
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$251.91
Practice 1 AnswerPractice 1 Answer
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 13 of 15
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Checks: $426.19 and $827.43Cash: 24 one-dollar bills, 8 five-dollar bills, and 11 ten-dollar bills Coins: 18 quarters, 52 dimes, 57 nickels, and 15 pennies.
Practice 2Practice 2
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-1, Slide 14 of 15
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$1,440.32
Practice 2 AnswerPractice 2 Answer
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Deposits4-1END OF SECTION
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