Understanding Positive and Negative Money in Bank Accounts

This lesson explains how positive and negative numbers are used in banking, focusing on bank accounts with balances greater or less than $0. It covers the concept of number lines, common banking terms like transactions, deposits, and withdrawals, and introduces the idea of loans and negative balances. The lesson uses practical examples to illustrate how these concepts apply to real-life banking scenarios.

What is a common misunderstanding about the lowest amount of money you can have?

• You can only have $0.

• You can have less than $0.

• You can have exactly $0.

• You can have more than $0.

What is the term used for putting money into a bank account?

• Deposit

• Loan

• Transaction

• Withdrawal

If you withdraw $9 from a bank account with $29, what will the new balance be?

• $21

• $19

• $18

• $20

What happens to your balance when you take out a loan?

• It becomes positive.

• It remains the same.

• It becomes negative.

• It doubles.

Why is it important to repay a loan before accumulating savings?

• To reduce bank fees.

• To avoid interest charges.

• To increase your credit score.

• To start growing your own money.