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You have just received your first
paycheck from your first job. Your
task is to open a checking and saving account at a local bank. Determine which bank you want to
utilize, open the account and deposit at least 20% of your pay check into your
savings account.
Classroom Preparation:
- Students will be divided into
small groups according to their address.
- Each group will: Locate and
name at least two area banks they could choose to bank with
- Each student will Determine
the bank choice by examining the perks associated with each account and
create a chart comparing the bank information obtained.
Present information to class.
- Each student will: Choose an individual bank.
- Each student will visit the bank of choice and
obtain the packet of information to open the accounts.
- Each student will
complete the new account packets
during class.
- Each student will visit the bank, open the
accounts and deposit the correct amount of money to the accounts.
- After the bank visit each
student will report to class about their banking experience.
(If students do not have actual
jobs or real money to deposit, role playing will serve these goals.)
Optional Curricular Extensions:
Math: Determine amount of
interest earned for the year. How
is interest compounded? Complete a
chart listing the various banking plans and compare the amount of interest
earned by each program.
English: Define all of the pay check and banking
terms such as gross pay, net pay, FICA, Social Security, local taxes, interest,
compounded, fees, electronic banking, ATM, etc.
Social Studies: Invite a banker to visit the class to
speak about the various kinds of jobs in the banking industry.
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