W!SE Review: Money & Banks

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Across
  1. 1. used to figure out the number of years it will take to double your money at a given interest rate
  2. 4. written by a bank, guaranteed form of payment
  3. 5. personal identification number
  4. 6. government issued currency that is not backed commodity such as gold or silver but rather by the government that issued it
  5. 7. writing a check or swiping your debit card but not having enough money in your account to cover it
  6. 8. a general increase in prices which causes the value of your money to go down.
  7. 10. given by banks, credit unions, pawnshops, finance companies, payday lenders
  8. 12. individual retirement account
  9. 15. lin directly to your checking account and be used instead of cash. They take money out of your account at the point of sale.
  10. 16. member owned co-operative financial institution usually has lower interest rates on loans
  11. 17. money not allocated for food or shelter
  12. 20. payroll tax that pays for Social Security and Medicare
  13. 21. wages before taxes
  14. 22. used like a check is a pre-specified amount of money and is purchased at different types of stores
Down
  1. 2. allowance is used to reduce amount of taxed income
  2. 3. interest earned on interest
  3. 9. closed loop system
  4. 10. the degree of ease in which assets can be sold
  5. 11. automatic teller machine, allow you to withdraw money and view account balances
  6. 13. Federal Reserve System which regulates banks, ensuring they are safe
  7. 14. Loan to pay for a home.
  8. 18. next best alternative, what is given up when a choice is made
  9. 19. a time deposit offered at financial institutions, a penalty if cashed before maturity