Banking
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Created by:
12ciancuttim on February 14, 2012
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15 terms
Terms | Definitions |
|---|---|
 Check | A piece of paper that orders a bank to pay money from an account |
| Bank | A business that offers financial services |
| Checking Account | A bank account against which checks may be written in order to pay expenses |
| Withdraw | To take money out of the bank account |
| Deposit | To put money into a bank account |
| Savings Account | A bank account used to save money and earn interest |
| Debit Card | A bank card that allows you use to ATM |
| Automated Teller Machine (ATM) | A machine that lets you access your bank account at any time |
| Simple Interest | Interest on the principal city |
| Compound Interest | Interest on principal and on the interest already earned |
| Principal | The amount of money in a bank account |
| Certificate of Deposit (CD) | A savings account with a minimum balance, a fixed interest rate, and a fixed period of time |
| Annually | Every year |
| Semi-Annually | Twice a year |
| Quarterly | 4 times a year |
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