# Financial Algebra

## Educators

Problem 1

How might the quote apply to what has been outlined in this lesson?

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Problem 2

Jackie deposited a $\$ 865.98$paycheck, a$\$623$ stock dividend check, a $\$ 60$rebate check, and$\$130$ cash into her checking account. Her original account balance was $\$ 278.91 .$Assuming the checks clear, how much was in her account after the deposit was made? Check back soon! Problem 3 Rich has$t$dollars in his checking account. On June$3,$he deposited$w_{1}, h,$and$v$dollars, and cashed a check for$k$dollars. Write an algebraic expression that represents the amount of money in his account after the transactions. Check back soon! Problem 4 John cashed a check for$\$630 .$ The teller gave him three fifty-dollar bills, eighteen twenty-dollar bills, and $t$ ten-dollar bills. Determine the value of $t .$

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Problem 5

Gary and Ann have a joint checking account. Their balance at the beginning of October was $\$ 9,145.87 .$During the month they made deposits totaling$\$2,783.71,$ wrote checks totaling $\$ 4,871.90$, paid a maintenance fee of$\$12,$ and earned $\$ 11.15$in interest on the account. What was the balance at the end of the month? Check back soon! Problem 6 Anna has a checking account at Garden City Bank. Her balance at the beginning of February was$\$5,195.65 .$ During the month, she made deposits totaling $\$ 6,873.22,$wrote checks totaling$c$dollars, was charged a maintenance fee of$\$15,$ and earned $\$ 6.05$in interest. Her balance at the end of the month was$\$4,200.00 .$ What is the value of $c ?$

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Problem 7

Queens Meadow Bank charges a monthly maintenance fee of $\$ 13$and a check writing fee of$\$0.07$ per check. Last year, Mark wrote 289 checks from his account at Queens Meadow. What was the total of all fees he paid on that account last year?

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Problem 8

Joby had $\$ 421.56$in her checking account when she deposited$g$twenty-dollar bills and$k$quarters. Write an expression that represents the amount of money in her account after the deposit. Check back soon! Problem 9 Neka cashed a check for$\$245$ . The teller gave him two fifty-dollar bills, six twenty-dollar bills and $f$ five-dollar bills. Determine the value of $f .$

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Problem 10

Olivia cashed a check for $\$ 113 .$The teller gave her four twenty-dollar bills,$x$ten-dollar bills, and three one-dollar bills. Find the value of$x .$Check back soon! Problem 11 Hector had$y$dollars in his savings account. He made a deposit of twenty-dollar bills and dollar coins. He had four times as many dollar coins as he had twenty-dollar bills and the total of his twenty-dollar bills was$\$60 .$ Write an expression for the balance in Hector's account after the deposit.

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Problem 12

On September $1,$ Chris Eugene made the following band equipment purchases at Leslie's Music Store. Calculate her total bill. Complete a check for the correct amount. Print a copy of the check from www.
cengage.com/school/math/ math/financialalgebra.

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Problem 13

Create a check register for the transactions listed. There is a $\$ 2.25$fee for each ATM use. a. Your balance on 10$/ 29$is$\$237.47$
b. You write check 115 on 10$/ 29$ for $\$ 182.00$to Fox High School. c. You deposit a paycheck for$\$162.75$ on 10$/ 30 .$
d. You deposit a $\$ 25$check for your birthday on 11$/ 4$. e. On$11 / 5,$you go to a sporting event and run out of money. You use the ATM in the lobby to get$\$15$ for snacks.
f. Your credit card bill is due on $11 / 10,$ so on 11$/ 7$ you write check 116 to Credit USA for $\$ 51.16 .$g. Your sister repays you$\$20$ on 11$/ 10 .$ You deposit it. h. You withdraw $\$ 25$from the ATM to buy flowers on 11$/ 12$. i. You deposit your paycheck for$\$165.65$ on 11$/ 16$ .
j. Your deposit a late birthday check for $\$ 35$on 11$/ 17$. Check back soon! Problem 14 Ridgewood Savings Bank charges a$\$27$ per check overdraft protection fee. On July $8,$ Nancy had $\$ 1,400$in her account. Over the next four days, the following checks arrived for payment at her bank: July$9, \$1,380.15,$ July $10, \$ 670$and$\$95.67 ;$ July $11, \$ 130 ;$and July$12, \$87.60 .$ How much will she pay in overdraft protection fees? How much will she owe the bank after July 12$?$

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Problem 15

123 Savings and Loan charges a monthly fee of $\$ 8$on checking accounts and an overdraft protection fee of$\$33 .$ Neela's check register showed she had a balance of $\$ 456$when she wrote a check for$\$312 .$ Three days later she realized her check register had an error and she actually only had $\$ 256 .$So she transferred$\$250$ into her checking account. The next day, her monthly account statement was sent to her. What was the balance on her statement?

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Problem 16

Create a check register for the transactions listed. Download a blank check register from www.cengage.com /school/math/financialalgebra.
a. Your balance on 12$/ 15$ is $\$ 2,546.50$. b. On$12 / 16,$you write check 2345 for$\$54$ to Kings Park High School Student Activities.
c. On $12 / 17,$ you deposit your paycheck in the amount of $\$ 324.20$. d. Your grandparents send you a holiday check for$\$100$ which you deposit into your account on 12$/ 20$ .
e. On 12$/ 22$ you write three checks: 2346 to Best Buy in the amount of $\$ 326.89,2347$to Macy's in the amount of$\$231.88,$ and 2348 to Target in the amount of $\$ 123.51$. f. On$12 / 24,$you go to the Apple Store. As you are writing the check for$\$301.67,$ you make a mistake and must void that check. You pay with the next available check in your checkbook.
g. On $12 / 26,$ you return a holiday gift. The store gives you $\$ 98$. You deposit that into your checking account. h. On$12 / 28,$you write an e-check to Allstate Insurance Company in the amount of$\$876.00$ to pay your car insurance.
i. On $12 / 29,$ you withdraw $\$ 200$from an ATM. There is a$\$1.50$ charge for using the ATM.

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Problem 17

Download a copy of the check register shown below from www.cengage.com/school/math/financialalgebra. Complete items a through y.

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