This is a service on online banking used to transfer deposits and checks from one bank to another.
What is Electronic Funds Transfer?
100
This is the amount of money in a checking account.
What is balance?
100
This was Miss Zee's previous profession that required a lot of math and Excel use.
What is engineering?
100
This is the minimum amount of time for which money is left in a deposit or CD account.
What is term?
100
This is the definition of an annuity.
What is a series of equal payments made at regular intervals of time?
200
This is the means employers use to transfer funds directly into their employee's bank accounts.
What is direct deposit?
200
This is a long-term savings plan also known as a time deposit or savings certificate.
What is certificate of deposit or CD?
200
Grace traveled here recently.
What is Thailand?
200
This is the term used to describe a fee charged for early withdrawal on a deposit account.
What is penalty?
200
This is the advantage of investing in an account that earns compound interest rather than simple interest.
What is earning more money?
300
Mara made deposits of $500 and $1236 to her account. She wrote checks for $196, $950, and $87. Her previous balance before these transactions was $129. The new balance of her account is $______.
What is $632?
300
This is a record you keep of deposits made and checks written.
What is a check register?
300
This is the equation for simple interest.
What is I = PRT?
300
Aaron invests $6000 in a savings account that earns an annual interest of 4% compounded quarterly. At the end of his 2 year term, he will gain $______ in interest on this account.
What is $497.14?
300
Ellie is considering investing $1000 in an account that earns compound interest of 5% compounded quarterly. She will have $________ in the account by the end of one year.
What is $1050.94?
400
Alfred has a balance of $25 in his checking account. He deposits four 50 dollar bills and three 20 dollar bills into his account. He wants to transfer money to his savings account and have a $20 balance in his checking account. He transfers $______ to his savings account.
What is $265?
400
This is the date that marks the end of a loan or savings plan.
What is maturity date?
400
This is what happens when you write a check and do not have adequate funds for that check in your account.
What is bouncing a check?
400
Effective rate of interest - which is the rate you actually earn by keeping your money on deposit for one year - is calculated using this equation.
What is Interest Earned in One Year divided by the Principal?
400
Paul invests $1500 in an account that earns an annual interest of 3% compounded quarterly. He will have $_______ in this account by its 5 year maturity date.
What is $1741.77?
500
These are checks that have not yet been received or paid by the bank.
What are outstanding checks?
500
This is the total in a savings account at the end of an interest period after compound interest has been added.
What is compound amount?
500
This is the factor that makes simple interest not a good estimate for compound interest.
What is number of compounds in a year?
500
Amber invested $12000 in a 5-year savings CD which pays an annual interest rate of 5%. At the end of one year, she has a personal crisis and has to withdraw $5000. Her penalty is 12-months interest. She pays $______ in penalty fees.
What is $600?
500
Jaxon saves $150 per quarter in an account that earns 6% interest compounded quarterly. The future value of his annuity after 5 years is $_______. (Multiplier is 23.12367)