B&F Principle Unit 4 Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Term | Definition |
Aggregate Measures | Tools used to estimate the size of the money supply |
Annual Percentage Rate | Nominal rate on which interest is calculated per year |
Annual Percentage Yield | Effective rate of interest when compounding is factored in |
Certificate of Deposit | Savings instrument with fixed interest rate and fixed maturity date |
Checking Account | An account which allows the holder to write checks against deposited funds |
Commodity Money | Currency based on some item of value, such as gold or precious stones |
Compound Interest | Return calculated by adding interest to principal for next interval |
Demand Deposit | Deposit payable on demand whenever the depositor chooses |
Discount Rate | Interest rate that the Fed charges for loans to member banks |
Excess Reserves | Those reserves held by a bank beyond its reserve requirement; used to create money |
Federal Funds Rate | Interest charged for short-term, interbank loans |
Fiat Money | Money deemed legal tender by the government but not based on or convertible by a commodity |
Fractional-Reserve System | Practice of reserving only part of a deposited quantity |
Interest | Price paid for the use of money |
Liquidity | The measure of how quickly things may be converted to something of value like cash |
Money Market Deposit Account | Savings account earning a competitive interest rate from invested deposits |
Money Supply | Liquid assets held by banks and individuals |
Multiplier Effect | Phenomenon that creates new deposits from lending |
Primary Reserves | Cash on hand, deposits due from banks, and the percentage required by the Federal Reserve System |
Prime Rate | Interest rate banks charge their best and most reliable customers |
Secondary Reserves | Reserves other than primary reserves ex: Federal securities |
Statement Savings Account | Provides a monthly or quarterly computerized statement detailing all account activity |
Time Deposit | Deposit held for or maturing at a specified time; savings accounts, CDs, and money market accounts |
Transaction Account | Account that allows transactions to occur at any time and in any number |
M1 | A category of the money supply that can be spent immediately; includes transaction accounts |
Basic | A type of checking account that offers few simple services for a minimal cost |
Maturity Date | The date on which a certificate of deposit is paid |
Principal | The beginning amount used to calculate interest |
Joint Account | Two or more owners, each of whom has equal and independent access to it |
Created by:
enix
Popular Finance sets