checks that have cleared with the listing in the register, check each off with an “X” or
check mark. Also subtract any bank charges, such as ATM (automated teller machine)
fees. If all of the checks have cleared, and all charges have been accounted for, the bal-
ance of the checkbook and statement should agree (unless the bank gives interest on
checking accounts; if so, add the interest to the checkbook under the “” or “credit”
column). If not all the items have cleared, check the bank statement and note the ones
not marked; total all these outstanding transactions. Subtract the total of the out-
standing transactions from the end balance on the bank statement; then add any
deposits that are not on the bank statement to this new balance. The numbers should
match the balance in the check register. If they don’t, go back over the addition and
subtraction in the checkbook register to catch any inaccuracies, which is often the
reason why a checkbook doesn’t balance.What is the annual percentage rate,or APR?
The annual percentage rate (APR) is an expression of the yearly interest rate that will
be paid on a loan (which includes credit cards). It differs from the advertised interest
rate, as it includes one-time fees in an attempt to calculate the “total cost” of borrow-
ing the money. Therefore, it is wise to always look for a low APR. Because lenders are
required to disclose the APR before a loan or credit application is finalized, it makes it
easier to compare lenders. For example, if a person borrows $100 for one year at 5 per-
cent simple interest (they will owe $105 at the end of the year), and the lender charges
a $5.00 fee, the total cost to borrow the money will actually be $10, meaning the APR
412 is 10 percent.
How do modern cash registers automatically
know how much an item costs?M
odern cash registers are actually computers that are able to read a code con-
sisting of a series of vertical bars varying in width. These are called bar codes
(or barcode) and represent numbers and other symbols. The bar code is scanned
by a laser beam that is sensitive to the reflections from the line along with space
thickness and variation. The reader translates the reflected light into digital data
that is transferred to a computer for immediate action or storage—usually both—
resulting in the addition of items purchased and an immediate inventory for the
store. (For more information about computers, see “Math in Computing.”)
But bar codes aren’t only for stores. They are also used to check out books
from the library, identify hospital patients, and track manufacturing and ship-
ping movements. There are even very small bar codes used in scientific research,
for example, to tag and keep track of honey bees.