Credit and debt card
where does the money come from when talking about credit cards?
The credit card company or the bank
What does insurance companies do?
help protect people and businesses from financial loss by providing insurance policies that cover certain risks in exchange for a fee.
Which accounts typically have lower interest rates?
Checking accounts usually have lower interest rates than savings.
Everywhere!
where does money come from when your using your debit card
your own checking account
what does mortgage insurance cover?
provides loans for prospective home buyers. They can also provide capital for a mortgage and sell or assign them to investors.
what are the two types of interest? Extra points if you can name which one is better
Compound and Simple. Compound is better
standard/in person and online.
What is the difference between a credit card and a debit card?
you are borrowing money when using a credit card to then pay it back while a debit card is you spending your own money.
what is for-profit?
They make money off of it.
What does P stand for in the two interest formulas?
Principal or the starting amount.
Who would use a premium checking account?
someone with large sums of money
which of them has fraud protection?
BOTH! most credit and debit cards have fraud protection
Investment Banks are private organizations which hold and manage securities for investment purposes What are those securities?
Are financial instruments with ownership rights, debts rights, or rights to buy, sell, or trade
What measurement of time is used when calculating interest?
In years
what are the checking account types?
Joint, business, premium, student, and senior
numerical representation of a person's creditworthiness (a number that tells you how often you pay it back)
hat is the investment banks and companies regulated by?
Securities and exchange commission; or SEC
What is the formula for compound interest (No notes)
A=P(1+r/n)^nt
Government-issued identification and proof of address.