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BAC Chapter 10

WHS BAC Chapter 10 Banking and Investing vocabulary

simple interest a one-time payment or fee charged for the use of money loaned
rate the percent of interest charged for money loaned
term the period of time for which money is loaned; the number of years the money is loaned
savings accounts bank accounts in which depositors can earn interest on money deposited
compound interest interest paid on the principal plus interest added to date
checking account a bank account against which a depositor can draw checks
automated teller machine (ATM) a computer terminal that allows 24-hour access to bank accounts
check a written order that is considered as cash
stub the part of a checkbook that serves as a record for the information written on the check
register a form on which transactions and balances are recorded
transaction the act of depositing to or withdrawing from a bank account
monthly statement a summary that shows recent transactions
reconcile to compare and check the accuracy of information in a checkbook
processed describes a check or deposit that has been handled by the bank
stock the element in a corporation that is divided into shares
shares parts into which capital stock of a corporation is divided
profit a gain or increase in value
loss a decrease in value
shareholders the people who own the stock of a corporation
dividend profit from stock
income stock stock that makes a profit
Created by: cawhite