Banking Vocab

2. convertmany of your debts into one loan payment, simplifying how many payments you have to make.
3. digital tokens
6. if you sell the asset for more than your adjusted basis.
7. the deposit of funds electronically into a bank account rather than through a physical, paper check.
10. Bond fixed-rate U.S. government debt securities with a maturity of 20 or 30 years.
11. Individual payments made from lump sum of money
13. a type of loan that allows you to borrow money from a lender and use that money to purchase a car.
16. Earn interest on money you saved and money earned or pay interest on money borrowed and interest accrued on loan.
17. Money paid to shareholder members out of corporate/credit earnings
18. Item of value to secure borrowed money in event of default.

1. Signature on back of check transfers ownership to the signing party
4. Money in account you can spend
5. Loan to cover business expenses and operation
6. CD-Investment vehicle that earns interest but only after given times as passed
8. a negative balance in your account but the bank allows the transaction.
9. Non-profit entity member only - lower interest rates for borrowing, higher interest rates for investing
12. a financial institution that accepts deposits, offers checking account services, makes various loans, and offers basic financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses.
13. APY, meaning Annual Percentage Yield, is the rate of interest earned on a savings or investment account in one year, and it includes compound interest.
14. Automated Teller Machine - allows bank transactions without human interaction
15. a written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.