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Banking Terms Mirror Decoding Game: Problem Solving Activity for Teenagers

July 13, 2013

Challenging mirror decoding game based on banking terms – problem solving activities for teenagers

Banking Terms Mirror Decoding Game: Problem Solving Activity for Teenagers

Main aim: Students identify a unique word by decoding banking terms using a mirror.  Fun learning activity to keep teenagers occupied. Perfect for in-between lessons or work. The activity level is suitable for middle and high school students.

Name: Banking Terms Mirror Decoding Game

Type: Problem solving activities for teenagers

Participants: Groups of 3-4 students

Duration: 30 minutes

Preparation: Banking Terms list (see end of post) to be given to each student.

Materials: Pen and paper and available mirror

Instructions

  • Give the students a list of 10 banking terms and their meanings (copy list below).
  • Instruct the students to learn the definitions and terms. Provide a hint to the students that it is important for them to learn the spelling of each banking term.
  • Collect the sheets back from the students.

Decoding game starts

  • The students are required to list down the 10 banking terms they have studied. Each term must be written down in CAPITAL letters.
  • Hints can be given to the students in the form of explanations of the terms. For example, a hint for “deposit” could be “the term for ‘money being added to an account’“.
  • After recording each of the 10 banking terms on a piece of paper, the students must identify a unique term of of the list of 10 terms that appears exactly the same in a mirror when the paper is turned upside down.
  • The first group that finds the correct answer and identifies the special term wins the game.

Answer

The unique term is “CHECKBOOK”. The reason for this word appearing the same upside down in a mirror is that all letters in the term have a horizontal line of symmetry. The students will also be interested to know that “CHECKBOOK” is the longest word made up of letters with horizontal lines of symmetry.

Rationale

This problem solving activity for teenagers is a variation of word mirror tricks shown to children. The activity has two benefits:

  • it enables students to learn and understand banking terms;
  • it also enables students to identify and explore lines of symmetry, and apply them to everyday words.

List of Banking Terms

Account

A bank account through which money transactions can be made, such as deposits and withdrawals. Types of bank accounts include savings account, checking account, offset account and more.

Checkbook

A checkbook is a book that contains blank checks which allows payees to make payments in the form of written checks.

Credit card

A plastic card that is issued by credit card providers such as VISA or American Express allowing credit card holders to make purchases on credit.

Debit card

A plastic card that deducts money from either a checking or savings bank account immediately on use. A debit card differs from a credit card in that credit cards do not deduct money immediately so that the credit card holder owes money to the card issuer.  Interest may be charged if the credit card holder makes late payments.

Deposit

Money being added to a bank account.

Electronic funds transfer

A transfer of money by electronic means e.g. through an ATM, through an online bank transaction, by phone or any other electronic means.

Interest

A fee that is charged by a lender who lends money to a borrower.

Money order

A payment order that allows a person to receive the cash amount specified in the order. An alternative to checks issued from checkbooks.

Overdraft

An overdraft occurs when not enough funds are contained in a bank account to cover a payment order issued by the holder of the bank account. An overdraft is usually not allowed by banks unless an overdraft facility is available.

Personal identification number (PIN)

A unique number issued to debit or credit card holders or bank holders that must be used when the holder wants to access his or her account or wants to withdraw money from the debit or credit card.