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BAC Chapter 10
WHS BAC Chapter 10 Banking and Investing vocabulary
| term | definition |
|---|---|
| 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
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