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25 Cards in this Set
- Front
- Back
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annuity |
a fixed amount set aside on a regular basis over time; a contract w/ an insurance company for monthly payments |
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bounced check |
a check that is returned to payee's bank due to non-sufficient funds |
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cashier's check |
a check issued against the bank's funds |
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certificate of deposit |
a time deposit that pays a fixed rate of interest for a specified length of time |
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check |
written order to bank to pay a stated amount |
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checkbook register |
a tool used to track check transactions |
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checking account |
a demand deposit in a bank on which checks are drawn |
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compound interest |
interest earned on both principal and previous interest |
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debit card |
a card use to withdraw/deduct money from your account |
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deposit |
money added to checking/savings account |
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endorsement |
a signature w/ or w/o instructions written on back of check |
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floating a check |
writing a check and planning to make a deposit to cover it before the check processes |
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inactive account |
an account that does not meet minimum usage requirements |
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internet banking |
accessing and managing account online |
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money market account |
a type of savings account that earns the market rate of interest |
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money order |
a type of check to do things for which the money is guaranteed |
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post-dated check |
check written w/ a date in the future |
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principal |
sum of money set aside on which interest is payed |
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Rule of 72 |
quick formula for computing how long it will take to double money invested at interest rate |
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savings account |
account designed for accumulation of money for future use |
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simple interest |
interest computed on principal once during a certain time period |
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smart card |
car containing a chip that stores electronic money |
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stop payment |
an instruction to a bank not to honor a check that has been issued/lost |
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U.S. savings bond |
a discount bond issued by the federal government that pays a guaranteed minimum rate of interest |
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withdrawal |
taking money from you account |
