Collin got to open his first bank account today. With the money he is earning from his chores and money he had from past Birthday and Christmas gifts, he had close to $200. He chose to deposit $150 and counted out the $20s, $5s and several $1s. He also received a check register and learned how to write he deposit transaction. He had a lot of questions including:
- What happens if the bank does not have enough money to pay him back?
- What's a transaction?
- Why would the bank pay interest in his money?
- What did he have to count the money starting with the $20s first and then go in order?
- Why couldn't he sign his name?
- Could his signature be a picture?
- Why does Dad's signature look like scribble? See how he lost focus after the signature? Ha!
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