A bank keeps coins safe, and lends coins that are paid back with a little extra.
In an old town in Italy, a banker sat at a long bench. A bench was called a banco, and that is where our word bank comes from.
Job one is keeping coins safe. The banker locks them in a strong box, writes the amount in a big book and gives a paper slip.
Job two is lending. To borrow means to take coins now and give them back later.
The extra coin Dario paid back is called interest. It is the price of borrowing, and the banker's pay.
These are some of the questions on the sets. The printable sheets have more and an answer key.
Coins. The banker locks them in a strong box.
1. 7 − 6 = 1.
Interest. It is the price of borrowing.
Keeping coins safe, and lending them. Banks still do both jobs today.
With a grown-up, talk about what a bank does for them: keeping money safe, and lending it.
Talk about the two jobs of a bank, keeping money safe and lending it, and that borrowing costs a little extra called interest. Pretend coins are fine for practice.
