Economics Vocab

5. a set amount of money paid to someone yearly
6. check written from the banks own banking account
9. the first number at the bottom of the check
11. loan secured by home, paid in installments
13. US government agency that insures desposits of member banks up to $250,000 per person
14. to take money out of the account
15. a term associated with taking money from your account
16. bank to bank transfers -- like direct deposits
18. a term associated with adding money to your account
21. the second number at the bottom of the check that indicates the specific account
24. A non-profit organization similar to a bank

1. a secured loan designed to help people with limited or poor credit built positive credit history
2. a loan backed by collateral
3. machine that allows you to perform banking functions like depositing checks and withdrawing money
4. scheduled payments that a borrower makes to a lender to repay the principal and interest on a loan
7. a deposit product offered by a bank
8. to put money IN the account
10. person authorized by the state to certify signatures and administer oaths
12. value today of future payments
17. the process of taking out a new loan to pay off the balance of an original loan
19. a general increase in prices
20. order bank service that issues a certificate allowing people to recieve cash on demand
22. a physical bank location where customers conduct banking in person
23. current market value minus the amount you owe