2023 FinLit Vocab for Ch 4 & 5 Banking

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Across
  1. 3. Interest earned not only on the principal but also on the interest earned during previous interest periods; earning interest on interest.
  2. 5. The amount of money earning interest.
  3. 7. An account in which equal deposits are made at the end of each interest period.
  4. 10. A specific kind of bank account that earns interest and is not designed for everyday transactions.
  5. 11. A paper document directing a bank to deduct money from your checking account and make a payment to the person named on it.
  6. 12. A deposit account held at a bank that gives you convenient access to your money.
  7. 13. The amount of money you have in an account.
  8. 14. Money taken out of a bank account.
  9. 15. Interest paid only on the principal.
  10. 17. To compare your bank statement to your check register to make sure they agree.
  11. 18. An account in which equal deposits are made at the beginning of each interest period and start earning interest immediately.
  12. 20. Interest that is computed each day and added to the account balance.
  13. 22. Charges from your bank to your account for services rendered.
  14. 24. The amount of money paid for the use of a lender’s money.
  15. 25. Performs basic banking functions, such as handling check deposits or issuing cash withdrawals.
Down
  1. 1. An online tool to calculate compound interest.
  2. 2. From your bank; lists all the activity in your account.
  3. 4. A personal number for an ATM card that gives you access to your bank account electronically (PIN).
  4. 6. A tool to calculate compound interest quickly.
  5. 7. Allows you to view your account, pay bills, and transfer money at any time over the internet.
  6. 8. An account into which someone deposits an equal amount of money at equal periods or intervals of time.
  7. 9. A bank statement that shows the status of your account, including deposits, withdrawals, and interest earned.
  8. 16. The percent of the principal earned as interest in one year.
  9. 19. a deposit electronically transferred from your employer’s checking account to your bank account.
  10. 21. A record of checking account deposits, withdrawals, and electronic transfers.
  11. 23. checks, currency, or coins put into a banking account, savings and loan, credit union, or brokerage firm.