Interest and Credit

4. percent converted to decimal
7. after the 2nd bank of the United States was vetoed individual banks resorted to creating and distributing their own currency
9. credit type with a score of 670-799
12. what do M1 and M2 account for?
14. something used for currency that allows the holder to exchange it for something of value
17. System established as America’s central banking system in 1913
19. Component of money supply relating to money’s role as a medium of exchange (includes currency and deposits)
20. Act created a national currency called the “Fiat Greenback”

1. vetoed the 2nd Bank of the United States
2. When did America introduce paper money?
3. America’s current type of currency/money
5. the first civilization to create paper money
6. interest earned on principle and previous interest earned
8. credit type with a score of 300-580
10. 1st Secretary of Treasury in America and created the first Bank of the United States
11. interest earned on principle investment only
13. simple interest calculation
15. What unit of time is used in the simple interest calculation?
16. Money must be easy to break down and divide into smaller portions
18. Money must be able to withstand wear and tear