Inside a Bank: teacher key

How Banks Work, grade 4 edition, written for 4th grade. A bank keeps money safe and lends some of it out. Read about deposits, interest, debit cards and the agency that protects people's money.

Read the book. Print this page for the key.

Questions and answers

1. What is it called when you put money into a bank?
   • A deposit (answer)
   • A withdrawal
   • A failure
2. Which account is for everyday spending?
   • A jar
   • A savings account
   • A checking account (answer)
3. How much interest does $100 earn in a year at 3 percent?
   • $30
   • $3 (answer)
   • $13
4. What does the word borrow mean on these pages?
   • Use someone else's money (answer)
   • Keep money in a jar
   • Take money from an ATM
5. Where does the money a bank lends come from?
   • From the Fed only
   • From many people's savings (answer)
   • From a debit card

Words

• deposit: putting money in
• withdrawal: taking money out
• interest: extra money
• borrow: use others' money