Deposits

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Deposits Section 5-1
Presented by M J Lund
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Section Objective

• Complete
• a savings account deposit slip
• Compute
• total deposit

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Key Words to Know
savings account (p. 196) A special bank account
for storing money for future use. deposit (p.
196) Money put into a bank account.
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Formula
Total Deposit (Currency Coins Checks)
Cash Received
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Example 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?
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Example 1 Answer
Step Compute the total deposit. (Currency
Coins Checks) Cash Received (14.00 145.58
47.51) 20.00 207.09 20.00 187.09
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Example 2
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?
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Example 2 Answer
Step Compute the total deposit. Currency 28
(8 x 5) 28 40 68 Coins (24 x 0.25)
(35 x 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
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Practice 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?
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Practice 1 Answer
684.57
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Practice 2
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?
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Practice 2 Answer
1,331.87
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In Example 2 on page 197 Note there is a
slightly different form for depositing in a
savings account than for depositing in a checking
account. However, the basic required information
is the same.
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Homework page 197 4 - 17