Financial Insitutions
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| Financial Institution | An organizations that collects funds from the public to place in financial assets such as stocks, bonds, money markets, bank deposits, or loans
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| ATM Card | A card that allows basic financial services from an automated teller machine.
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| Debit card | A card that looks like a credit card, but operates like cash; money is immediately subtracted from the user's bank account.
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| Debit | An amount deducted from a bank account.
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| Credit | Financial trust extended to a person or business by a lender; a loan.
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| Credit Card | A card authorizing the holder to buy goods or services.
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| Interest | Payment for the cost of using someone else's money, usually expressed as an annual percentage rate.
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| Opportunity Cost | The next best alternative given up when making a choice.
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| Savings account | Interest-bearing financial institution accounts where people put money aside for future use.
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| Invest | To commit money in order to gain profit or interest.
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| Stock | A share of a corporation sold to the public.
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| Simple Interest | Interest that is paid on the amount deposited.
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| Compound Interest | Interest that is paid on the amount deposited and the interest earned.
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| With a Credit Card you, | buy now, pay later.
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| With a Debit Card you, | buy now, pay now.
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| One disadvantage of using credit is | it allows for impulse spending.
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| Three variables that affect saving money are | amount, interest, and time.
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| Bonds | A bond is an IOU, a record of the loan, and the terms of repayment.
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| Mutual Funds | An investment company that pools money from shareholders to buy varied stocks and bonds.
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| Futures | Obligations to buy or sell a specific commodity, such as corn, gold, or Treasury bonds on a specific day for a preset price.
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Created by:
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