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ben frank biztown 2

"Ben's" Biztown 2

QuestionAnswer
Financial Institution A business that provides money-related services.
Checking Account An account that allows the owner to write checks against deposited money.
Debit Card Cards that allow customers to electronically and immediately withdraw funds from their accounts.
Savings Account An account used to hold money that is not needed right away.
Loan An amount of money borrowed by someone that must be repaid, usually with interest.
Interest A fee received for the use of money.
Credit Card A card that allows the holder to buy goods and services, taking out a bank loan for the purchases.
Checks Written orders to a bank to pay a certain amount of money from a checking account to another person or business.
Deposit Tickets Written records of money put into a checking account.
Check Register A booklet for recording the money that is put in (deposited) or removed (withdrawn) from the checking account.
Net Deposit The amount of money deposited into an account, minus any cash received.
Endorse To write a signature on the back of the check
Compound Interest The interest a person earns on today's money that will compound (add) to the amount of money (savings) that will earn interest later.
Created by: pagelsdc