unit 3 money and finance
Terms in this set (26)
an institution for receiving, keeping, and lending money
A report of deposits, withdrawals, and bank balances sent to a depositor by a bank
Money in the form of bills or coins
certificate of deposits
A savings alternative in which money is left on deposit for a stated period of time to earn a specific rate of return.
A business form ordering a bank to pay cash from a bank account
The book in which you keep records of checks, deposits, debit card transactions, and ATM withdrawals.
an account at a bank against which checks can be drawn by the account depositor.
Privately owned financial institutions that accept demand deposits and make loans and provide other services for the public
the process of accumulating interest on an investment over time to earn more interest
interest earned on both the principal amount and any interest already earned
A plastic card used to make purchases now and pay for them later.
nonprofit service cooperative that accepts deposits, makes loans, and provides other financial services
A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder
a bank, trust company, insurance company, credit union, building and loan association, savings and loan association, place for deposit of funds or medium of savings or collective investments.
A sum paid or charged for the use of money or for borrowing money
The interest rate will not change for the lifetime of the investment.
a variable for which its role in the cause and effect of an observed relationship is not clear
A final payment of a mortgage loan that is considerably larger than the required periodic payments because the loan amount was not fully amortized.
the interest earned on money loaned
anything that serves as a medium of exchange, a unit of account, and a store of value
market in which money is lent for periods of less than a year
what you use to pay for something, like cash or a check
Disposable income not spent for consumer goods.
a bank account that earns interest
The inability to satisfy all wants at the same time
interest paid on the principal alone
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