Unit 3 - Banking Crossword Puzzle

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Across
  1. 3. Not-for-profit institutions that are co-owned by their members who make decisions democratically. Typically offer all of the same services as traditional banks.
  2. 5. An account at a bank that allows a customer to deposit money.
  3. 7. Every two weeks.
  4. 9. Twice a year, or every 6 months.
  5. 11. Withdrawals from a bank account.
  6. 12. Deposits into a bank account.
  7. 13. Four times a year, or every 3 months.
  8. 16. Interest that is calculated on the principal in an account using the formula I = Prt.
  9. 17. An asset or item acquired with the goal of generating income or appreciation.
  10. 18. Two times per month.
  11. 19. Twelve times per year.
  12. 20. The percentage rate that is paid by a bank on money that is in some accounts.
Down
  1. 1. An account in which the bank pays interest for the use of the money deposited in the account.
  2. 2. The initial balance, or initial amount of money, in an account, or amount initially borrowed.
  3. 4. Interest that is earned on the money deposited into an account plus previous interest.
  4. 6. A certificate that states there is a specific sum of money on deposit and guarantees the payment of a fixed interest rate after a certain period of time, usually 7 days to 10 years.
  5. 8. This protection pays a check even though there are not enough funds in the account; there is a fee for this service and the money must be repaid.
  6. 10. Once a year.
  7. 14. People who don't have an account at a bank or a credit union may use this to get money quickly, but a high risk.
  8. 15. An account that pays higher interest rate than other types of accounts, but usually requires a higher initial deposit and a higher minimum balance, often with a limit on the number of transactions per month.