Chater 5 words Word Scramble
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Term | Definition |
Direct deposit | An automatic deposit to an employee's account |
Automated teller machine | A computer that enables a withdrawal of cash |
Debit card | Cash cards that allows to withdraw money or pay with it |
Point of sale transaction | A purchase by a debit card of a good/service |
Commercial bank | A for-profit business that offers a range of financial services |
Saving and loan association | Financial accounts that is specialized in saving accounts and mortgages. |
Credit union | Non-profit business that is controlled by their members and for their own benefit. |
Certificate of deposit | An alternative for money is left on a deposit for a certain period of time |
Money market account | Saving account that requires a minimum balance and earns interest. |
Rate of return | The percentage of the increase in the value of your interest |
Compounding | Process in which money is earned on the principal |
Annual Percentage yield | Amount of interest that a $100 deposit would earn |
Overdraft protection | An automatic loan made to account if the balance will not cover interest written |
Stop-payment order | Request that a bank not cash a particular check |
Endorsement | Signature of the payee |
Bank reconciliation | Report that accounts for the differences between a bank statement and the check book |
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