Bank account

Bank account

Pencil and paperOnline interactive
Overview
Using this Resource
Connecting to the Curriculum
Marking Student Responses
Working with Students
Further Resources
This task is about adding and subtracting amounts of money.
girl standing outside a bank
Work out the amount in Hayley's bank account after each transaction.

Question 2Change answer

Hayley had $454.25 in her savings account at the beginning of March.
 
a)  Hayley received $25 on March 10 for her birthday, which she banked.
     The new total in her account was $ 

Question 4Change answer

b)  Later in March she banked $12 pocket money and the bank paid 75c in interest.

     The savings account now showed the new total of $ 

Question 6Change answer

c)  Hayley then withdrew $10.50 from her account to buy her brother a birthday present.

     The new balance was $ 

Question 8Change answer

d)  On March 31 interest of $24.45 from her savings was added to Hayley's account. 

     The new balance in the account was then $ 

Question 10Change answer

e)  By how much did Hayley's account increase during March? $ 
Task administration: 
This task can be completed with pen and paper or online (with NO auto-marking).
Auto-marking is not used here because students may carry on a miscalculation from b) through to e).
Level:
3
Curriculum info: 
Maths, Number and Algebra, Number Strategies
Keywords: 
addition, subtraction, decimals, money, banking, saving
Description of task: 
Students use addition and subtraction to calculate the changing balance in a students back account.
Curriculum Links: 
This resource can help to identify students' ability to apply additive or simple multiplicative ideas flexibly to combine or partition whole numbers to solve addition and subtraction problems.
Learning Progression Frameworks
This resource can provide evidence of learning associated with
Additive thinking, sets 6-7
within the Mathematics Learning Progressions Frameworks.
Read more about the Learning Progressions Frameworks.
Answers/responses: 
 
Y6 (06/1997)
Y7 (06/1997)
a) $479.25 easy easy
b) $492.00 [Accept if = answer to a) + $12.75] moderate easy
c) $481.50 [Accept if = answer to b) - $10.50] moderate easy
d) $505.95 [Accept if = answer to c) + $24.45] easy easy
e) $51.70 [Accept if = answer to d) - $454.25] very difficult difficult
Diagnostic and formative information: 
   Common error Likely reason
a) $454.50
$489.25		 Adds 25c rather than $25.
Adds $35 rather than $25.
e) $26.70 Subtracts final balance from answer to a) rather than from initial balance.
e) $62.20 Sum of all deposits and interest. Ignores withdrawals.