Standard #: SS.912.FL.4.2


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Compare and contrast the characteristics of the various accounts and services offered by depository institutions.


Clarifications


Clarification 1: Instruction includes online banking, minimum balance requirements, monthly fees, overdraft penalties, and interest rates.

Clarification 2: Instruction includes understanding the process for opening and managing a bank account.

Clarification 3: Instruction includes understanding the different components of an account, such as the routing number and the account number.



Related Courses

Course Number1111 Course Title222
2102300: Economics and Personal Finance (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102305: Economics and Personal Finance Honors (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102371: Personal Finance and Money Management (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102373: Personal Finance and Money Management Honors (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102306: Economics and Personal Finance for Credit Recovery (Specifically in versions: 2024 and beyond (current))
2102375: Personal Finance and Money Management for Credit Recovery (Specifically in versions: 2024 and beyond (current))


Related Resources

Lesson Plan

Name Description
Ranking Banking

In this Model Eliciting Activity, MEA, students will analyze and compare data from 4 different financial institutions to recommend the best fit for an accounting company. Students will apply mathematical skills such as basic arithmetic, averages, percentages, and weighted scoring to evaluate various banking characteristics including monthly fees, transaction costs, cash deposit costs, and stop-payment fees.

Model Eliciting Activities, MEAs, are open-ended, interdisciplinary problem-solving activities that are meant to reveal students’ thinking about the concepts embedded in realistic situations. MEAs resemble engineering problems and encourage students to create solutions in the form of mathematical and scientific models. Students work in teams to apply their knowledge of science and mathematics to solve an open-ended problem while considering constraints and tradeoffs. Students integrate their ELA skills into MEAs as they are asked to clearly document their thought processes. MEAs follow a problem-based, student-centered approach to learning, where students are encouraged to grapple with the problem while the teacher acts as a facilitator. To learn more about MEAs visit: https://www.cpalms.org/cpalms/mea.aspx

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