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4.4 – Bank Statements

4.4 – Bank Statements. Vocabulary/Formula. bank statement (p. 175) A statement from your bank that lists all the checks that have cleared, including, automatic transfers, ATM transactions, and deposits. service charge (p. 175) A fee charged for services rendered by your bank.

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4.4 – Bank Statements

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  1. 4.4 – Bank Statements

  2. Vocabulary/Formula bank statement (p. 175) A statement from your bank that lists all the checks that have cleared, including, automatic transfers, ATM transactions, and deposits. service charge (p. 175) A fee charged for services rendered by your bank. Present = Previous + Deposits –Withdrawals – Service + Interest Balance Balance Charges

  3. Example Your bank statement shows a previous balance of $944.50. You make deposits of $755.50 and $210.40, and write checks for $355.50 and $125.50. You have a $3.00 service charge and earn $0.25 in interest. What is your present balance?

  4. Solution Step: Calculate the balance Previous + Deposits – Withdrawals – Service + Interest Balance Charges $944.50 + $755.50 + $210.40 – $355.50 - $125.50 – $3.00 + $0.25 $1,426.65

  5. Assignment • P. 176-177 1-17all

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