Name _____________________________________________________________ Date ________________________
Exercises
Checking Accounts
3-1
1. Mitchell has a balance of $1,200 in his First State Bank checking account. He deposits a
$387.89 paycheck, a $437.12 dividend check, and a personal check for $250 into his account.
He wants to receive $400 in cash. How much will he have in his account after the transaction?
Name _____________________________________________________________ Date ________________________
or duplicated, or posted to a publicly accessible website, in whole or in part.
9. Create a check register for the transactions listed.
a. Your balance on 1/5 is $822.67.
b. You write check 1076 on January 6 for $600.00 to Excel Health Club.
CODE
NUMBER OR DATE TRANSACTION DESCRIPTION AMOUNT
PAYMENT
AMOUNT
DEPOSIT
$
$BALANCE
FEE
1076
1/6
1/11
1/15
Excel Health Club
Deposit (Paycheck)
Deposit (Rebate Check)
600 00
227 45
50 00
822.67
– 600.00
222.67
+ 227.45
450.12
+ 50.00
196.62
1/20 ATM Bank Charge 2 50 – 2.50
194.12
FEE
597.46
Name _____________________________________________________________ Date ________________________
10. Create a check register for the transactions listed.
a. Your balance on 2/25 is $769.22.
b. On 2/25, you write check 747 for $18 to Steve Smith.
c. On 2/27, you deposit your paycheck in the amount of $450.80.
$23.50, and $100.70.
m. On 3/13, you transfer $1,000 from your savings account into your checking account.
n. On 3/13, you write a check to Empire Properties for your rst month’s rent in your new
Name _____________________________________________________________ Date ________________________
or duplicated, or posted to a publicly accessible website, in whole or in part.
(Transactions are listed on the previous page.)
CODE
NUMBER OR DATE TRANSACTION DESCRIPTION AMOUNT
PAYMENT
AMOUNT
DEPOSIT
$
$BALANCE
FEE
747
2/25
2/27
2/28
Steve Smith
Deposit
Deposit (Birthday Check)
18 00
450 80
50 00
769.22
– 18.00
751.22
+ 450.80
1,202.02
+ 50.00
EFT 3/8 e-check AllFarm Insurance 521 30 – 521.30
485.46
3/10 ATM Withdraw 300 00 – 300.00
185.46
597.85
3/15 Debit Card (Kitchen Supply) 150 00 – 150.00
447.85
Name _____________________________________________________________ Date ________________________
Exercises
Reconcile a Bank Statement
3-2
1. On the back of Elise’s monthly statement, she listed the following outstanding withdrawals:
#123, $76.09; #117, $400; #130, $560.25; debit card, $340.50; and #138, $83.71. She also
determined that a deposit for $500 and the other for $328.90 are outstanding. Using these
outstanding transactions, what adjustment will have to be made to her statement balance?
or duplicated, or posted to a publicly accessible website, in whole or in part.
Name _____________________________________________________________ Date ________________________
Exercises
3-3 Savings Accounts
1. Gary deposits $3,700 in an account that pays 2.15% simple interest. He keeps the money
in the account for three years, but doesn’t make any deposits or withdrawals. How much
interest will he receive after the three years?
or duplicated, or posted to a publicly accessible website, in whole or in part.
Name _____________________________________________________________ Date ________________________
or duplicated, or posted to a publicly accessible website, in whole or in part.
11. How much interest would y dollars earn in one day at a rate of 3.75% compounded daily?
0.0375y
______
52
or duplicated, or posted to a publicly accessible website, in whole or in part.
Name _____________________________________________________________ Date ________________________
Exercises
Continuous Compounding
3-6
Round to the nearest cent wherever necessary.
1. Given the function f(x) =
1,234,999
_______
x
, as the values of x increase towards in nity, what happens
to the values of f(x)?
5. Given the function f(x) = 2x, nd lim
6. Given the function f(x) =
(
1
__
)
x, use a table to compute lim
no limit
Name _____________________________________________________________ Date ________________________
or duplicated, or posted to a publicly accessible website, in whole or in part.
13. Eric deposits $4,700 at 5.03% interest, compounded continuously for ve years.
a. What is his ending balance?
or duplicated, or posted to a publicly accessible website, in whole or in part.
or duplicated, or posted to a publicly accessible website, in whole or in part.