Name:FORMTEXT ?????Date:FORMTEXT ?????School:FORMTEXT



Name: FORMTEXT ?????Date: FORMTEXT ?????School: FORMTEXT ?????Facilitator: FORMTEXT ?????4.01 Do I Need a Bank?Part I. Read the scenario and decide which type of banking service is the top priority for each person. Ja’Mychal is always on the go, and he uses his cell phone for just about everything. He’s heard about banks that have apps in which he can take a picture of a check he wants to deposit, upload the picture to the app, and the money will be deposited to his account. He feels this app will save him time instead of having to go to a bank branch to deposit the money in person. He also wants to be able to see his bank balance through the app.Which banking service is Ja’Mychal most interested in? FORMTEXT ?????Kyra has just began making money. Actually, she hasn’t really started making money at all. Instead, she receives an allowance each month from her parents, but she wants to Pay Herself First. She knows in a year or so she will need some money to pay for car insurance.Which banking service is Kyra most interested in? FORMTEXT ?????Sara is about to graduate high school. She has saved money the last few years while working a part-time job. Her parents bought her a car when she turned 16, but her younger brother is about to turn 16 and her parents have promised him the car when he turns 16. This means Sara must buy a car on her own. She has about $6,000 saved, and she received another $1,000 in graduation gifts. She wants to buy a reliable car that will last her throughout college. She has spotted a Honda Accord with low miles, but the asking price is $15,000.Which banking service is Sara most interested in? FORMTEXT ?????Emery started working part-time a few months ago, and his paychecks are starting to roll in. That’s a good thing because as soon as he turned 16 his parents told him that he would have to start paying some bills; specifically his cell phone, car insurance, and gasoline. Right now, he’s getting his paychecks cashed and using cash to pay for it all. He wonders if there is an easier way.Which banking service is Emery most interested in? FORMTEXT ?????Part II. Car LoanMortgageATM Banking AppsCredit CardDebit CardChecking AccountDirect DepositPersonal ChecksStudent LoansCertificate of DepositInternet BankingTraditional Savings AccountMoney Mark AccountAbove are banking features. Place each banking feature with the correct banking service. Be sure you use all of the features somewhere in the chart.Savings ServicesPayment ServicesLoan ServicesElectronic Banking ServicesPart III. Short Answer Explain why teens need a bank account. FORMTEXT ?????Which banking services are you most interested in? FORMTEXT ?????Do you currently have a bank account? FORMTEXT ?????If yes, explain how you use your bank account. FORMTEXT ????? If no, share your plan to get started with your first bank account. FORMTEXT ????? ................
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