Vocabulary 1
Define checkbook
what is a book of blank checks
Define credit card
what is a card that allows you to make purchases on credit
what is a 401(k)?
a retirement plan offered to help people save and invest in retirement
Define issuer
what is a company that provides credit cards
Define debit card
what is a card that deducts money directly from a checking account to make purchases
what is an ATM?
a machine that allows people to complete basic transactions
Define bonds
what is loans to a company or gov that pay a fixed rate of interest to the lender overtime
Define gross pay
what is a full amount of pay received before with-holdings and deductions
what is deductions?
items withheld from a person's pay
Define credit
What is the ability for someone to borrow money and pay it back later
Define direct deposit
what is an electronic payment directly to an employees account by an employer
what is interest?
a charge incurred for borrowing money
Define deposit
What is the placement of money into a checking or savings account
Define fraudulent transaction
what is a transaction that was unauthorized by an account holder
what is a checking account?
a bank account that allows deposits and withdrawals