Unit 2 Vocabulary

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Across
  1. 2. _____ checks are checks that do not appear on the bank statement.
  2. 4. The money in a bank account that is not released until the issuing bank of a check pays for a check.
  3. 6. A percentage of the money that is in an account that a bank pays on some accounts.
  4. 7. The account owner of a check; the person who writes the check.
  5. 8. A specified date at which interest is paid on money in an account.
  6. 11. The _____ number is the number that appears on all checks, deposit slips, and bank statements identifying the owner of the account.
  7. 12. A ______ sequence is a progression of numbers in which the difference between any two consecutive terms is a constant.
  8. 13. _______ slip is a form to fill out when adding money to a bank account.
  9. 16. The _______ period are the dates on a bank statement that indicate the range of dates in which the transactions occurred.
  10. 17. The _______ interest formula is the formula I=Prt, where p is principal, r is the interest rate, and t is the time in years.
  11. 19. The interest rate paid per year or charged per year.
  12. 20. A _______ account is an account at a bank that allows a customer to deposit money and make withdrawals from the funds on deposit using a paper check or electronic transfer.
  13. 22. A ______ of deposit is 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; deposits and withdrawals cannot be made with a CD.
  14. 24. The receiver of the transferred funds or the person to whom the check is written.
  15. 25. The _____ balance is a certain amount of money that must be kept in an account as required by that particular bank.
  16. 26. The ______ statement is a document that includes all transactions that have occurred for a period of approximately 1 month.
  17. 27. The balance, or amount of money, in an account, or amount borrowed.
  18. 28. Same as balancing; the process of verifying the bank’s records to make sure no errors have been made.
  19. 29. The _______ balance is the amount of money in a checking account at the beginning of a statement period.
Down
  1. 1. You have _______ funds when an account does not have enough money to cover a check that has been issued against it.
  2. 3. ______ fee is a fee that some banks charge to provide access to checking or savings accounts.
  3. 5. A _____ deposit is a payroll or other type of check that are directly and electronically deposited into a bank account.
  4. 9. An account that pays a 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.
  5. 10. The process of verifying a bank’s records to make sure no errors have been made.
  6. 14. The ______ rate is the percentage rate that is paid by a bank on money that is in some accounts.
  7. 15. The _____ balance is the amount of money in a checking account at the end of a statement period.
  8. 18. _______ deposits that do not appear on the bank statement.
  9. 21. A written order used to tell a bank to pay money (transfer funds) from an account to the check holder.
  10. 23. An account where a consumer receives a monthly statement showing all activity, including deposits, interest earned, and any fees.