Many schools now have school savings banks. Most of these school banks deposit their funds (money) in some larger savings bank where they obtain interest on their deposits. The following are illustrations of deposit slips of savings banks and of commercial banks. Every time money is deposited a slip like one of these must be filled out : The United States government has established a savings-bank system in the various post offices, whereby the savings of any person may be deposited at interest, with the security of the United States government. Any person 10 years of age or older may become a depositor in the postal savings bank. The smallest amount that can be deposited is $1 and the greatest balance permitted, exclusive of interest, is $2500. Amounts less than $1 may be saved by purchasing 10-cent postal savings cards and 10-cent postal savings stamps. A postal savings card with 9 postal savings stamps affixed will be accepted as a deposit of $1. A depositor receives a postal savings certificate for every deposit made. These certificates are issued in denominations of $1, $2, $5, $10, $20, $50, $100, $200, and $500. Interest is allowed on these certificates at the rate of 2% a year. It begins on the first day of the month following the day the certificate was issued. No interest is allowed for any fraction of a year. If a depositor desires to withdraw any money he must return savings certificates covering the amount wanted. Visit the nearest post office and see how the postal savings bank is conducted. Join one yourself if you can afford to. Every one should save as much as he possibly can. Thrift is an excellent habit. 1. Fill out deposit slips for the following deposits : a. June 9-$50 check, $45 check, $18 check, 10 five-dollar bills, 20 one-dollar bills. b. June 16-$25 check, $250 check, $48 check, $64 check, 5 ten-dollar bills, 8 five-dollar bills, 15 onedollar bills. 2. What must you do to each check before depositing it? 3. Imagine that your teacher requests you to deposit the following in the First Exchange Bank to-day, in his name. Fill out the deposit slip: 20 dimes, 100 quarters, 12 one-dollar bills, 2 five-dollar bills, 1 ten-dollar bill, $10 check. BUSY SEAT WORK A. Perform the operations indicated within the time required by your teacher. B. Make your own problems, based on each of the following examples. Example: 31-1. A strip of wood 31" long was shortened by ". How long was the remaining piece? [Use pencil when needed] 3. +18 4. +3 5. +3 6. 矗+ 7. +1 8. +99 3. 8-3 4. 1 5.5. 공 |