Economics Homework #6

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Across
  1. 3. nonprofit bank owned by its members
  2. 4. interest paid on both principal and accumulated interest
  3. 6. failure to pay back a loan
  4. 7. the price paid for the use of borrowed money
  5. 8. the amount of money borrowed
  6. 9. the ability to be used as or directly converted to, cash
  7. 10. a specific type of loan that is used to buy real estate
  8. 11. a fund that pools money from small savers to purchase short-term securities
Down
  1. 1. the money in checking accounts
  2. 2. banking system that keeps only a fraction of funds on hand - lends remainder
  3. 5. interest paid only on principal