The big ideaA first account has a grown-up on it, a private lock-code and a balance that changes.
How it works
Nico saved fifty pretend coins and wanted his first bank account. Opening one takes a grown-up, so Gran walked him to the Coin House and signed the form.
Four words to know: a deposit is coins in, a withdrawal is coins out, the balance is the coins in the account now, and a statement lists every change.
A year later came a pretend extra, two coins for every fifty, so the balance was fifty-two. Then Nico took out twelve for a gift, and the balance was forty.
The lock-code is a secret that only Nico and Gran know. Never tell it to anyone who asks.
The balance after each change on Nico's statement.Coins in and coins out.
Example 1: The first deposit
Nico puts his 50 coins on the counter.
The clerk counts them twice.
That first deposit opens the account, and the balance is 50.
Example 2: The pretend extra
The Coin House adds 2 coins for every 50.
Nico has 50, so he gets 2.
The balance is now 50 + 2 = 52.
Example 3: A withdrawal
Nico wants a gift for Gran, so he takes out 12 coins.
The balance is 52 − 12 = 40.
The coins left are still his, safe inside.
Example 4: Reading the statement
The statement lists deposit 50, extra 2 and withdrawal 12.
After each line it shows the balance: 50, then 52, then 40.
Nico checks every line, ready to tell Gran if one looks odd.
Words to know
deposit
Putting coins in.
withdrawal
Taking coins out.
balance
The coins in the account now.
statement
A list of every change, in order, with the balance after each.
lock-code
A secret that only you and your grown-up know.
Watch out
A balance changes each time coins go in or out. It is not just the first deposit.
The coins in the account are still yours. The bank keeps them safe.
Some accounts charge fees or have rules about taking coins out, so a grown-up asks what it costs and what it needs first.
Never tell the lock-code to anyone who asks.
Try it
Nico has 52 and takes out 12. What is his balance?
What is putting coins into an account called?
What does a statement list?
A friend asks for your lock-code. What do you do?
Answers: 1. 40 · 2. A deposit · 3. Every change, with the balance after each · 4. Do not tell. Only your family knows it
Try at homeWith a grown-up, make a pretend statement for a jar of coins. Write each coin in or out, and the balance after it.
For grown-upsThese are pretend coins at a made-up bank. If you like, look at a real statement together with the private numbers covered, and find each deposit, withdrawal and balance.
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