Personal Finance Unit 11

4. / A machine that provides cash and performs banking services automatically when accessed by customers using plastic cards coded with personal identification numbers.
5. / The length of time money is borrowed or invested.
7. of Deposit / A certificate issued by a bank to a person depositing money in an account for a specified period of time.
8. / A financial institution that provides various products and services to its customers, including checking and savings accounts, loans and currency exchange.
9. Goal / Something a person or organization plans to achieve within a one year time period.
11. Account / A financial account into which people deposit money and from which they withdraw money by writing checks.
14. Goal / Something a person or organization plans to achieve at least 5 years in the future.
15. Statement / A monthly summary providing the status of a depositor's financial accounts.
16. / An individual who provides investment services to other individuals, assisting in the buying and selling of stock, bonds and other investment instruments.
17. Clearing House / An electronic network for financial transactions in the U.S.
19. Interest / Interest that is earned not only on the principal but also on the interest already earned.
20. Account / An interest bearing account at a bank.

1. Bill Pay / A process that allows consumers to make regular bill payments from their banking accounts using electronic methods such as consumers and arranged drafts.
2. and Loan / A type of financial institutions that specializes in but is not restricted to lending money to consumers for mortgages.
3. Deposit Insurance Corporation / A federal agency that guarantees depositors' savings up to $250,000 per account in most commercial banks, saving banks and saving associations.
6. Loan / A loan made to an individual or household for purposes of buying or paying for a consumer good.
7. Consumption / Purchasing goods or services with the intent of having them seen by others, usually in an effort to signal status or wealth.
10. Value of Money / This is the value of a sum of money at a different period of time.
11. / A written order to a financial institution directing the bank to pay a stated amount of money, as instructed, from the customer's account.
12. / An original amount of money invested or lent.
13. / Money paid regularly, at a particular rate, for the use of borrowed money.
16. Account / An arrangement by which a bank holds funds on behalf of a depositor.
18. / Money put into a financial account.
19. Union / A nonprofit financial institution owned by it's members; offers various financial services including accounts and loans; regulated by the National Credit Union Association (NCUA).