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Chapter 17.1.2.3busi
Question | Answer |
---|---|
Bank | a financial institution |
Commercial Loan | a loan made to a business |
Consumer Loans | loan made to an individual for personal use |
Nonbank | offers products and services |
Check | a written order requiring the financial institution to pay previously deposited money to a third party on demand |
Endorsement | the payee's signature on the back of the check |
Unsecured Loan | loan that is not backed by collateral |
secured loan | loan backed b collateral |
EFT | transferring money by computer |
Direct deposit | electronic transfer of a paycheck |
Savings Account | a way to save money |
CD | a time deposit account that requires a specified minimum deposit for a fixed period |